Ginkgo Bioworks (NYSE:DNA) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Ginkgo Bioworks (NYSE:DNA) from a sell rating to a hold rating in a report issued on Saturday.

Several other research firms have also recently issued reports on DNA. TD Cowen cut shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and cut their price target for the company from $12.00 to $9.00 in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Ginkgo Bioworks has a consensus rating of “Sell” and a consensus price target of $7.00.

Ginkgo Bioworks Stock Down 6.4%

DNA stock opened at $7.96 on Friday. The stock’s 50 day moving average is $8.77 and its two-hundred day moving average is $8.32. Ginkgo Bioworks has a 52-week low of $5.37 and a 52-week high of $17.58. The company has a market capitalization of $519.62 million, a PE ratio of -1.59 and a beta of 1.78.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.15. Ginkgo Bioworks had a negative return on equity of 56.08% and a negative net margin of 215.41%.The company had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $24.05 million.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Ginkgo Bioworks during the 3rd quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new position in Ginkgo Bioworks in the second quarter worth $29,000. Strategic Advocates LLC boosted its holdings in Ginkgo Bioworks by 808.9% in the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock worth $36,000 after purchasing an additional 3,899 shares during the period. Entropy Technologies LP bought a new stake in Ginkgo Bioworks during the first quarter valued at $67,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Ginkgo Bioworks during the second quarter worth $71,000. Institutional investors and hedge funds 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.