Ginkgo Bioworks (NYSE:DNA) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Ginkgo Bioworks (NYSE:DNA) to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

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

Ginkgo Bioworks Stock Performance

Ginkgo Bioworks stock opened at $6.50 on Monday. The firm has a market cap of $438.05 million, a price-to-earnings ratio of -1.30 and a beta of 1.78. Ginkgo Bioworks has a 52-week low of $5.37 and a 52-week high of $17.58. The firm has a 50 day moving average price of $8.56 and a two-hundred day moving average price of $8.18.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating 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 company had revenue of $20.16 million for the quarter, compared to analyst estimates of $24.05 million. As a group, equities research analysts predict that Ginkgo Bioworks will post -3.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DNA. Prescott Group Capital Management L.L.C. bought a new stake in Ginkgo Bioworks in the fourth quarter valued at $4,503,000. UBS Group AG boosted its position in shares of Ginkgo Bioworks by 86.4% during the 4th quarter. UBS Group AG now owns 489,418 shares of the company’s stock worth $4,067,000 after purchasing an additional 226,861 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Ginkgo Bioworks by 28,457.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company’s stock valued at $1,901,000 after buying an additional 227,943 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Ginkgo Bioworks in the 1st quarter valued at about $616,000. Finally, Western Wealth Management LLC bought a new stake in Ginkgo Bioworks in the 4th quarter valued at about $83,000. 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.