Ginkgo Bioworks’ (DNA) “Sell” Rating Reiterated at BTIG Research

BTIG Research reiterated their sell rating on shares of Ginkgo Bioworks (NYSE:DNA) in a research note released on Friday, Marketbeat Ratings reports. They currently have a $5.00 target price on the stock.

A number of other research analysts have also recently commented on DNA. Zacks Research upgraded Ginkgo Bioworks to a “hold” rating in a research note on Monday, August 17th. Wall Street Zen upgraded Ginkgo Bioworks from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Friday, July 17th. Finally, TD Cowen cut shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating and reduced their price target for the stock from $12.00 to $9.00 in a research report on Friday, August 7th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $7.00.

Ginkgo Bioworks Stock Performance

Shares of NYSE DNA opened at $6.95 on Friday. The firm has a market cap of $468.01 million, a PE ratio of -1.39 and a beta of 1.76. The firm has a fifty day moving average of $8.12 and a 200 day moving average of $8.00. Ginkgo Bioworks has a one year low of $5.37 and a one year high of $17.58.

Ginkgo Bioworks (NYSE:DNA) last announced its earnings results 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 return on equity of 60.27% and a negative net margin of 259.96%.The business had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $24.05 million. On average, equities analysts predict that Ginkgo Bioworks will post -3.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

Large investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its position in shares of Ginkgo Bioworks by 113.1% during the 1st quarter. Millennium Management LLC now owns 1,427,600 shares of the company’s stock worth $8,137,000 after acquiring an additional 757,535 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Ginkgo Bioworks during the 4th quarter worth about $4,503,000. California State Teachers Retirement System raised its position in shares of Ginkgo Bioworks by 1,663.2% during the 2nd quarter. California State Teachers Retirement System now owns 543,980 shares of the company’s stock worth $54,892,000 after acquiring an additional 513,128 shares in the last quarter. State Street Corp lifted its stake in Ginkgo Bioworks by 38.4% during the fourth quarter. State Street Corp now owns 1,292,071 shares of the company’s stock worth $10,737,000 after purchasing an additional 358,231 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Ginkgo Bioworks by 28,457.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 228,744 shares of the company’s stock worth $1,901,000 after purchasing an additional 227,943 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

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.