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

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

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Monday, April 20th. 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 data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $8.50.

Ginkgo Bioworks Price Performance

Shares of NYSE:DNA opened at $7.88 on Friday. The company has a market capitalization of $514.98 million, a P/E ratio of -1.47 and a beta of 1.77. Ginkgo Bioworks has a 1-year low of $5.37 and a 1-year high of $17.58. The firm’s 50 day simple moving average is $8.84 and its two-hundred day simple moving average is $8.42.

Ginkgo Bioworks (NYSE:DNA) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.21) by ($0.18). Ginkgo Bioworks had a negative net margin of 215.41% and a negative return on equity of 56.08%. The firm had revenue of $19.00 million for the quarter, compared to the consensus estimate of $42.93 million.

Hedge Funds Weigh In On Ginkgo Bioworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. purchased a new position in Ginkgo Bioworks during the 4th quarter valued at approximately $4,503,000. UBS Group AG raised its holdings in shares of Ginkgo Bioworks by 86.4% during the 4th quarter. UBS Group AG now owns 489,418 shares of the company’s stock worth $4,067,000 after acquiring an additional 226,861 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Ginkgo Bioworks by 28,457.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company’s stock valued at $1,901,000 after acquiring an additional 227,943 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Ginkgo Bioworks during the 4th quarter valued at approximately $166,000. Finally, Entropy Technologies LP purchased a new position in shares of Ginkgo Bioworks in the first quarter valued at $67,000. 78.63% of the stock is owned by institutional investors.

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.