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

Wall Street Zen downgraded shares of Ginkgo Bioworks (NYSE:DNA) from a hold rating to a sell rating in a research note issued to investors on Saturday.

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

Ginkgo Bioworks Price Performance

Shares of NYSE:DNA opened at $7.88 on Friday. The business’s fifty day moving average price is $8.84 and its two-hundred day moving average price is $8.42. Ginkgo Bioworks has a fifty-two week low of $5.37 and a fifty-two week high of $17.58. The stock has a market capitalization of $514.98 million, a price-to-earnings ratio of -1.47 and a beta of 1.77.

Ginkgo Bioworks (NYSE:DNA) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.18). Ginkgo Bioworks had a negative return on equity of 56.08% and a negative net margin of 215.41%.The company had revenue of $19.00 million for the quarter, compared to analyst estimates of $42.93 million.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in Ginkgo Bioworks during the 3rd 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 raised its stake in shares of 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 acquiring an additional 3,899 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Ginkgo Bioworks in the second quarter worth about $71,000. Finally, Western Wealth Management LLC acquired a new position in shares of Ginkgo Bioworks during the fourth quarter worth approximately $83,000. 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.