Wall Street Zen Downgrades Ginkgo Bioworks (NYSE:DNA) to Sell

Ginkgo Bioworks (NYSE:DNA) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other equities research analysts have also recently commented on the stock. BTIG Research decreased their target price on shares of Ginkgo Bioworks from $9.00 to $5.00 and set a “sell” rating for the company in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, January 21st. Finally, TD Cowen reduced their price target on Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $8.50.

Ginkgo Bioworks Price Performance

DNA opened at $5.98 on Friday. The business’s 50-day moving average is $8.24 and its two-hundred day moving average is $9.81. Ginkgo Bioworks has a 1 year low of $5.00 and a 1 year high of $17.58. The firm has a market capitalization of $369.97 million, a PE ratio of -1.06 and a beta of 1.58.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings results on Thursday, February 26th. The company reported ($1.42) EPS for the quarter, beating the consensus estimate of ($1.80) by $0.38. Ginkgo Bioworks had a negative net margin of 183.81% and a negative return on equity of 52.82%. The business had revenue of $33.40 million during the quarter, compared to analyst estimates of $37.57 million. As a group, sell-side analysts expect that Ginkgo Bioworks will post -10.02 EPS for the current year.

Institutional Trading of Ginkgo Bioworks

Institutional investors have recently bought and sold shares of the stock. Erste Asset Management GmbH increased its stake in Ginkgo Bioworks by 10.0% during the 3rd quarter. Erste Asset Management GmbH now owns 2,200,000 shares of the company’s stock valued at $32,076,000 after purchasing an additional 200,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Ginkgo Bioworks by 104.5% during the second quarter. Geode Capital Management LLC now owns 937,583 shares of the company’s stock worth $10,549,000 after buying an additional 479,154 shares during the period. Jump Financial LLC purchased a new stake in shares of Ginkgo Bioworks during the second quarter valued at $4,163,000. Allianz Asset Management GmbH purchased a new stake in shares of Ginkgo Bioworks during the third quarter valued at $2,802,000. Finally, Legal & General Group Plc increased its position in shares of Ginkgo Bioworks by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 1,490,521 shares of the company’s stock valued at $16,768,000 after acquiring an additional 71,927 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

About Ginkgo Bioworks

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.