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

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

A number of other research analysts have also commented on DNA. TD Cowen lowered their price objective on Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $10.50.

Ginkgo Bioworks Trading Up 1.5%

Shares of NYSE:DNA opened at $6.60 on Friday. The stock has a market capitalization of $399.59 million, a PE ratio of -1.17 and a beta of 1.59. Ginkgo Bioworks has a 1 year low of $5.00 and a 1 year high of $17.58. The firm has a fifty day moving average price of $8.91 and a 200 day moving average price of $10.30.

Ginkgo Bioworks (NYSE:DNA) last posted its earnings results on Thursday, February 26th. The company reported ($1.42) earnings per share for the quarter, beating the consensus estimate of ($1.80) by $0.38. Ginkgo Bioworks had a negative return on equity of 52.82% and a negative net margin of 183.81%.The company had revenue of $33.40 million for the quarter, compared to analyst estimates of $37.57 million. On average, sell-side analysts forecast that Ginkgo Bioworks will post -10.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of hedge funds have recently bought and sold shares of DNA. Millennium Management LLC grew its position 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 valued at $8,137,000 after purchasing an additional 757,535 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of Ginkgo Bioworks in the fourth quarter worth about $4,503,000. Geode Capital Management LLC lifted its position in shares of Ginkgo Bioworks by 104.5% during the 2nd quarter. Geode Capital Management LLC now owns 937,583 shares of the company’s stock worth $10,549,000 after purchasing an additional 479,154 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Ginkgo Bioworks during the 2nd quarter worth about $4,163,000. Finally, State Street Corp boosted its stake in Ginkgo Bioworks by 38.4% during the 4th quarter. State Street Corp now owns 1,292,071 shares of the company’s stock valued at $10,737,000 after purchasing an additional 358,231 shares during the period. 78.63% of the stock is currently 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.