Ginkgo Bioworks (NYSE:DNA) Downgraded by Wall Street Zen to “Sell”

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

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

Ginkgo Bioworks Stock Performance

Shares of DNA stock opened at $5.98 on Friday. Ginkgo Bioworks has a fifty-two week low of $5.00 and a fifty-two week 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. The stock’s 50-day simple moving average is $8.24 and its 200-day simple moving average is $9.81.

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

Institutional Investors Weigh In On Ginkgo Bioworks

Hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its stake in shares of Ginkgo Bioworks by 23.9% during the 4th quarter. Invesco Ltd. now owns 261,706 shares of the company’s stock worth $2,175,000 after purchasing an additional 50,565 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of Ginkgo Bioworks during the 4th quarter valued at approximately $1,612,000. Numerai GP LLC lifted its stake in shares of Ginkgo Bioworks by 94.1% in the 4th quarter. Numerai GP LLC now owns 25,625 shares of the company’s stock valued at $213,000 after purchasing an additional 12,421 shares during the period. Millennium Management LLC lifted its stake in shares of Ginkgo Bioworks by 113.9% in the 4th quarter. Millennium Management LLC now owns 48,901 shares of the company’s stock valued at $406,000 after purchasing an additional 26,037 shares during the period. Finally, Inspire Investing LLC boosted its holdings in Ginkgo Bioworks by 81.4% during the fourth quarter. Inspire Investing LLC now owns 57,293 shares of the company’s stock worth $476,000 after buying an additional 25,716 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

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.