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

Ginkgo Bioworks (NYSE:DNA) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus target price of $7.00.

Ginkgo Bioworks Trading Down 0.2%

Shares of DNA stock opened at $7.96 on Friday. Ginkgo Bioworks has a 12 month low of $5.37 and a 12 month high of $17.58. The stock has a market cap of $519.62 million, a P/E ratio of -1.59 and a beta of 1.78. The company has a 50 day simple moving average of $8.77 and a two-hundred day simple moving average of $8.32.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $24.05 million.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Ginkgo Bioworks by 4.2% during the third quarter. Vanguard Group Inc. now owns 2,480,504 shares of the company’s stock valued at $36,166,000 after acquiring an additional 99,379 shares during the period. Legal & General Group Plc lifted its position in shares of Ginkgo Bioworks by 7.9% in the third quarter. Legal & General Group Plc now owns 1,608,923 shares of the company’s stock valued at $23,458,000 after acquiring an additional 118,402 shares in the last quarter. Millennium Management LLC boosted its stake in shares of 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 acquiring an additional 757,535 shares during the period. State Street Corp boosted its stake in shares of Ginkgo Bioworks by 38.4% in the fourth quarter. State Street Corp now owns 1,292,071 shares of the company’s stock worth $10,737,000 after acquiring an additional 358,231 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Ginkgo Bioworks by 23.7% during the fourth quarter. Geode Capital Management LLC now owns 999,600 shares of the company’s stock worth $8,309,000 after purchasing an additional 191,240 shares in the last quarter. Institutional investors 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.