Ginkgo Bioworks (NYSE:DNA) Stock Rating Lowered by Wall Street Zen

Ginkgo Bioworks (NYSE:DNAGet Free Report) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Monday, April 20th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $8.50.

Check Out Our Latest Stock Report on DNA

Ginkgo Bioworks Stock Down 0.3%

NYSE:DNA opened at $7.88 on Friday. The stock has a market cap of $514.98 million, a P/E ratio of -1.47 and a beta of 1.77. The business’s 50-day moving average price is $8.84 and its two-hundred day moving average price is $8.42. Ginkgo Bioworks has a twelve month low of $5.37 and a twelve month high of $17.58.

Ginkgo Bioworks (NYSE:DNAGet Free Report) last issued 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). The business had revenue of $19.00 million for the quarter, compared to analysts’ expectations of $42.93 million. Ginkgo Bioworks had a negative return on equity of 56.08% and a negative net margin of 215.41%.

Institutional Trading of Ginkgo Bioworks

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Ginkgo Bioworks by 322.6% during the first quarter. AQR Capital Management LLC now owns 158,939 shares of the company’s stock worth $906,000 after acquiring an additional 121,326 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Ginkgo Bioworks by 113.1% during the 1st quarter. Millennium Management LLC now owns 1,427,600 shares of the company’s stock valued at $8,137,000 after purchasing an additional 757,535 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ginkgo Bioworks by 25.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company’s stock valued at $3,915,000 after purchasing an additional 139,126 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Ginkgo Bioworks in the 1st quarter worth $120,000. Finally, Rhumbline Advisers purchased a new position in Ginkgo Bioworks in the 2nd quarter worth $666,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

(Get Free Report)

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.

Further Reading

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