Shares of Zymergen Inc. (NASDAQ:ZY) have earned a consensus rating of “Sell” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $9.83.
A number of analysts have issued reports on ZY shares. Cowen downgraded Zymergen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 4th. JPMorgan Chase & Co. cut Zymergen from a “neutral” rating to an “underweight” rating and set a $12.00 target price for the company. in a report on Monday, September 27th. William Blair cut Zymergen from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 4th. Zacks Investment Research cut Zymergen from a “hold” rating to a “sell” rating in a report on Friday, October 8th. Finally, UBS Group cut Zymergen from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $56.00 to $13.00 in a report on Tuesday, August 31st.
Several hedge funds have recently modified their holdings of ZY. Citigroup Inc. acquired a new position in Zymergen during the 2nd quarter valued at about $50,000. Royal Bank of Canada purchased a new stake in shares of Zymergen in the second quarter worth about $51,000. Ameritas Investment Partners Inc. purchased a new position in Zymergen during the second quarter worth approximately $59,000. Legal & General Group Plc purchased a new position in Zymergen during the second quarter worth approximately $64,000. Finally, Pinz Capital Management LP purchased a new position in Zymergen during the second quarter worth approximately $96,000. Institutional investors and hedge funds own 51.00% of the company’s stock.
Zymergen Company Profile
Zymergen Inc designs, engineers, and optimizes microbes for industrial applications in United States, Asia, and Europe. The company has a platform that treats the genome as a search space, to identify genetic changes that improve the economics for its customers' bio-based products for a range of industries, including chemicals and materials, agriculture, and pharmaceuticals.
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