Ginkgo Bioworks (NYSE:DNA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ginkgo Bioworks (NYSE:DNA) from a sell rating to a hold rating in a research report report published on Sunday morning.

A number of other research firms have also recently weighed in on DNA. TD Cowen decreased their target price on shares of Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Ginkgo Bioworks presently has an average rating of “Reduce” and a consensus price target of $10.50.

Ginkgo Bioworks Trading Down 4.6%

DNA stock opened at $6.31 on Friday. The firm has a 50-day moving average price of $8.88 and a 200-day moving average price of $10.26. Ginkgo Bioworks has a 12 month low of $5.00 and a 12 month high of $17.58. The stock has a market capitalization of $382.02 million, a P/E ratio of -1.12 and a beta of 1.58.

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

Hedge Funds Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Ginkgo Bioworks by 322.6% during the first quarter. AQR Capital Management LLC now owns 158,939 shares of the company’s stock valued at $906,000 after acquiring an additional 121,326 shares during the last quarter. Millennium Management LLC grew its stake 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 worth $8,137,000 after purchasing an additional 757,535 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Ginkgo Bioworks by 25.4% in the first quarter. Goldman Sachs Group Inc. now owns 686,767 shares of the company’s stock valued at $3,915,000 after purchasing an additional 139,126 shares during the period. Acadian Asset Management LLC bought a new position in Ginkgo Bioworks during the 1st quarter worth $120,000. Finally, Modera Wealth Management LLC bought a new position in Ginkgo Bioworks during the 2nd quarter worth $246,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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.