Ginkgo Bioworks (NYSE:DNA) Rating Increased to Hold at Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen upgraded shares of Ginkgo Bioworks (NYSE:DNA – Free Report) from a sell rating to a hold rating in a research note issued to investors on Sunday.
A number of other brokerages have also issued reports on DNA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Wednesday, January 21st. TD Cowen dropped their price target on shares of 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 analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ginkgo Bioworks presently has an average rating of “Reduce” and a consensus price target of $10.50.
Check Out Our Latest Stock Analysis on DNA
Ginkgo Bioworks Price Performance
Shares of Ginkgo Bioworks stock opened at $6.53 on Friday. Ginkgo Bioworks has a 1-year low of $5.00 and a 1-year high of $17.58. The business’s fifty day moving average price is $8.95 and its two-hundred day moving average price is $10.34. The company has a market capitalization of $395.65 million, a P/E ratio of -1.16 and a beta of 1.58.
Ginkgo Bioworks (NYSE:DNA – Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($1.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.80) by $0.38. The company had revenue of $33.40 million during the quarter, compared to analysts’ expectations of $37.57 million. Ginkgo Bioworks had a negative return on equity of 52.82% and a negative net margin of 183.81%. On average, research analysts expect that Ginkgo Bioworks will post -10.02 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Quarry LP acquired a new position in Ginkgo Bioworks during the third quarter worth about $29,000. Raymond James Financial Inc. acquired a new stake in Ginkgo Bioworks in the 2nd quarter valued at about $29,000. Strategic Advocates LLC lifted its holdings in Ginkgo Bioworks by 808.9% in the 4th quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock valued at $36,000 after acquiring an additional 3,899 shares during the last quarter. Strs Ohio bought a new position in shares of Ginkgo Bioworks during the 3rd quarter valued at about $44,000. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Ginkgo Bioworks during the 2nd quarter valued at about $45,000. Institutional investors own 78.63% of the company’s stock.
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.