Shares of Zymergen Inc. (NASDAQ:ZY – Get Rating) have earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.75.
ZY has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on Zymergen from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 13th. UBS Group reduced their price target on Zymergen from $13.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, March 24th. Finally, William Blair reissued a “market perform” rating on shares of Zymergen in a report on Wednesday, March 9th.
Shares of NASDAQ:ZY opened at $1.44 on Tuesday. The firm has a market capitalization of $148.52 million, a PE ratio of -0.39 and a beta of 0.28. The business has a 50-day moving average of $1.54 and a two-hundred day moving average of $3.62. Zymergen has a 12 month low of $1.10 and a 12 month high of $45.10.
In related news, CTO Aaron Kimball sold 32,639 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $2.87, for a total value of $93,673.93. Following the sale, the chief technology officer now directly owns 712,644 shares in the company, valued at approximately $2,045,288.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 38,660 shares of company stock worth $104,128. 11.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZY. Data Collective II GP LLC bought a new stake in shares of Zymergen during the 4th quarter worth $16,383,000. Citigroup Inc. boosted its stake in shares of Zymergen by 3,935.1% during the 1st quarter. Citigroup Inc. now owns 815,744 shares of the company’s stock worth $2,357,000 after acquiring an additional 795,528 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Zymergen by 17.0% in the first quarter. JPMorgan Chase & Co. now owns 4,170,023 shares of the company’s stock worth $12,051,000 after buying an additional 606,588 shares during the period. Northern Trust Corp boosted its position in shares of Zymergen by 258.4% in the fourth quarter. Northern Trust Corp now owns 590,227 shares of the company’s stock worth $3,949,000 after buying an additional 425,549 shares during the period. Finally, Morgan Stanley boosted its position in shares of Zymergen by 28.8% in the third quarter. Morgan Stanley now owns 1,506,635 shares of the company’s stock worth $19,842,000 after buying an additional 336,702 shares during the period. 68.40% of the stock is owned by institutional investors and hedge funds.
About Zymergen (Get Rating)
Zymergen Inc design, develop, and commercialize microbes, molecules, and materials. It offers an automation solution comprising reconfigurable automation carts, a modular hardware building blocks that allow for assembly of work cells customized for the particular needs of a lab; and automation control software, a cloud-based software used to control integrated automation systems.
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