Zacks Investment Research Lowers Codex DNA (NASDAQ:DNAY) to Hold

Zacks Investment Research lowered shares of Codex DNA (NASDAQ:DNAY) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Codex DNA Inc. is a creator of the BioXp(TM) system, a fully automated benchtop instrument which enables numerous synthetic biology workflows. Codex DNA Inc. is based in SAN DIEGO. “

DNAY has been the subject of a number of other reports. Jefferies Financial Group started coverage on shares of Codex DNA in a research report on Tuesday, July 13th. They set a buy rating and a $23.00 price target for the company. Cowen started coverage on shares of Codex DNA in a research report on Tuesday, July 13th. They set an outperform rating and a $16.57 price target for the company. Finally, KeyCorp started coverage on shares of Codex DNA in a research report on Tuesday, July 13th. They set an overweight rating and a $30.00 price target for the company.

Shares of DNAY opened at $11.98 on Wednesday. The company’s 50-day moving average is $14.17. Codex DNA has a 1-year low of $11.26 and a 1-year high of $25.70.

Codex DNA (NASDAQ:DNAY) last announced its earnings results on Monday, August 9th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.70). The firm had revenue of $2.85 million for the quarter, compared to analysts’ expectations of $2.55 million. On average, sell-side analysts forecast that Codex DNA will post -1.14 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Pinz Capital Management LP bought a new stake in shares of Codex DNA in the second quarter worth approximately $198,000. M&T Bank Corp bought a new stake in Codex DNA during the second quarter valued at approximately $263,000. Squarepoint Ops LLC bought a new stake in Codex DNA during the second quarter valued at approximately $307,000. Geode Capital Management LLC bought a new stake in Codex DNA during the second quarter valued at approximately $313,000. Finally, Zimmer Partners LP bought a new stake in Codex DNA during the second quarter valued at approximately $330,000. 20.77% of the stock is owned by institutional investors and hedge funds.

Codex DNA Company Profile

Codex DNA, Inc, a synthetic biology company, manufactures and sells synthetic biology instruments, reagents, and associated products and related services, primarily to pharmaceutical and academic laboratories worldwide. Its solutions include BioXp system that empowers researchers to go from a digital DNA sequence to endpoint-ready synthetic DNA; BioXp portal, an online portal that offers an intuitive guided workflow and design tools for building new DNA sequences and assembling them into vectors of choice; BioXp kits that contain building blocks and reagents, including its Gibson Assembly branded reagents, for specific synthetic biology workflow applications; Cloud-based scripts; Benchtop reagents that contain all the reagents necessary to proceed with a specific synthetic biology workflow on the benchtop using products generated on the BioXp system; and Biofoundry Services, which enable a customer to order and receive the BioXp system endpoint-ready products, such as genes, clones, cell-free amplified DNA, and variant libraries.

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