Wall Street Zen cut shares of Ginkgo Bioworks (NYSE:DNA – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.
A number of other brokerages have also recently issued reports on DNA. TD Cowen cut Ginkgo Bioworks from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $9.00 in a research note on Friday, August 7th. Zacks Research upgraded Ginkgo Bioworks to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Friday, July 17th. Finally, BTIG Research restated a “sell” rating and issued a $5.00 target price on shares of Ginkgo Bioworks in a report on Friday. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $7.00.
Check Out Our Latest Research Report on DNA
Ginkgo Bioworks Price Performance
Ginkgo Bioworks (NYSE:DNA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.15. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. The firm had revenue of $20.16 million during the quarter, compared to analyst estimates of $24.05 million. On average, equities analysts expect that Ginkgo Bioworks will post -3.2 earnings per share for the current fiscal year.
Institutional Trading of Ginkgo Bioworks
Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Ginkgo Bioworks by 322.6% in the 1st quarter. AQR Capital Management LLC now owns 158,939 shares of the company’s stock valued at $906,000 after purchasing an additional 121,326 shares during the period. Millennium Management LLC raised its holdings in Ginkgo Bioworks by 113.1% in the first quarter. Millennium Management LLC now owns 1,427,600 shares of the company’s stock worth $8,137,000 after purchasing an additional 757,535 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Ginkgo Bioworks by 25.4% during the first quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company’s stock valued at $3,915,000 after buying an additional 139,126 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Ginkgo Bioworks during the 1st quarter valued at $120,000. Finally, Rhumbline Advisers purchased a new stake in shares of Ginkgo Bioworks in the 2nd quarter worth about $666,000. 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.
Featured Stories
- Five stocks we like better than Ginkgo Bioworks
- 3 Under-the-Radar Defense Stocks With Record Backlogs
- This Korea ETF Has Soared, But the Rally May Not Be Over
- Why Guidewire’s Post-Earnings Plunge May Not Last
- Ride-Share Reckoning: Tesla Drives Into Uber’s Lane
Receive News & Ratings for Ginkgo Bioworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ginkgo Bioworks and related companies with MarketBeat.com's FREE daily email newsletter.
