ARK Investment Management LLC Acquires 318,171 Shares of Zymergen Inc. (NASDAQ:ZY)

ARK Investment Management LLC increased its holdings in Zymergen Inc. (NASDAQ:ZYGet Rating) by 10.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,456,518 shares of the company’s stock after acquiring an additional 318,171 shares during the period. ARK Investment Management LLC owned about 3.35% of Zymergen worth $4,908,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC grew its holdings in Zymergen by 90.6% during the fourth quarter. SG Americas Securities LLC now owns 18,542 shares of the company’s stock valued at $124,000 after purchasing an additional 8,812 shares during the period. Virtu Financial LLC grew its holdings in Zymergen by 52.5% during the first quarter. Virtu Financial LLC now owns 32,312 shares of the company’s stock valued at $93,000 after purchasing an additional 11,119 shares during the period. Keebeck Alpha LP purchased a new stake in shares of Zymergen during the first quarter worth $117,000. Prelude Capital Management LLC purchased a new stake in shares of Zymergen during the first quarter worth $123,000. Finally, BlackRock Inc. lifted its position in shares of Zymergen by 1.4% during the first quarter. BlackRock Inc. now owns 4,192,794 shares of the company’s stock worth $12,117,000 after acquiring an additional 58,103 shares in the last quarter. 52.99% of the stock is owned by institutional investors.

Zymergen Stock Down 4.0 %

Shares of NASDAQ:ZY opened at $2.66 on Monday. The stock’s 50-day moving average price is $2.47 and its 200-day moving average price is $2.18. Zymergen Inc. has a 12-month low of $1.10 and a 12-month high of $14.43.

Zymergen (NASDAQ:ZYGet Rating) last announced its quarterly earnings data on Monday, August 15th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.38). The company had revenue of $2.63 million for the quarter, compared to the consensus estimate of $3.25 million. Zymergen had a negative net margin of 2,508.94% and a negative return on equity of 93.37%. On average, equities research analysts predict that Zymergen Inc. will post -2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ZY has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded Zymergen from an “underweight” rating to a “neutral” rating in a research report on Tuesday, July 26th. UBS Group lowered their price objective on Zymergen to $2.60 in a research report on Tuesday, July 26th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.28.

About Zymergen

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Zymergen Inc design, develop, and commercialize microbes, molecules, and materials. It offers an automation solution comprising reconfigurable automation carts, a modular hardware building blocks that allow for assembly of work cells customized for the particular needs of a lab; and automation control software, a cloud-based software used to control integrated automation systems.

Further Reading

Institutional Ownership by Quarter for Zymergen (NASDAQ:ZY)

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