Ginkgo Bioworks (NYSE:DNA) Raised to Hold at Zacks Research

Ginkgo Bioworks (NYSE:DNAGet Free Report) was upgraded by Zacks Research to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently commented on DNA. TD Cowen downgraded Ginkgo Bioworks from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $12.00 to $9.00 in a research note on Friday, August 7th. Wall Street Zen upgraded Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Friday, July 17th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $7.00.

Get Our Latest Stock Report on DNA

Ginkgo Bioworks Stock Down 6.0%

Shares of NYSE DNA opened at $6.50 on Monday. The firm’s 50-day moving average price is $8.56 and its 200-day moving average price is $8.18. Ginkgo Bioworks has a 52-week low of $5.37 and a 52-week high of $17.58. The company has a market cap of $438.05 million, a PE ratio of -1.30 and a beta of 1.78.

Ginkgo Bioworks (NYSE:DNAGet Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.15. Ginkgo Bioworks had a negative return on equity of 60.27% and a negative net margin of 259.96%.The company had revenue of $20.16 million during the quarter, compared to analyst estimates of $24.05 million. As a group, equities research analysts anticipate that Ginkgo Bioworks will post -3.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in shares of Ginkgo Bioworks in the 3rd quarter valued at about $29,000. Raymond James Financial Inc. bought a new stake in Ginkgo Bioworks during the second quarter worth approximately $29,000. Strategic Advocates LLC increased its stake in Ginkgo Bioworks by 808.9% during the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock worth $36,000 after acquiring an additional 3,899 shares during the last quarter. Entropy Technologies LP bought a new stake in Ginkgo Bioworks during the first quarter worth approximately $67,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Ginkgo Bioworks during the second quarter valued at approximately $71,000. 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.

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