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

Ginkgo Bioworks (NYSE:DNA)‘s stock had its “sell” rating reiterated by stock analysts at BTIG Research in a research note issued on Friday, MarketBeat Ratings reports. They presently have a $5.00 price target on the stock. BTIG Research’s price objective points to a potential downside of 27.85% from the stock’s current price.

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

Ginkgo Bioworks Stock Down 1.4%

Shares of Ginkgo Bioworks stock opened at $6.93 on Friday. The stock has a market cap of $466.67 million, a price-to-earnings ratio of -1.38 and a beta of 1.76. Ginkgo Bioworks has a twelve month low of $5.37 and a twelve month high of $17.58. The company’s fifty day moving average is $8.18 and its 200 day moving average is $8.01.

Ginkgo Bioworks (NYSE:DNA) last announced its earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $20.16 million for the quarter, compared to the consensus estimate of $24.05 million. As a group, equities analysts anticipate that Ginkgo Bioworks will post -3.2 earnings per share for the current fiscal year.

Institutional Trading of Ginkgo Bioworks

Several large investors have recently modified their holdings of DNA. California State Teachers Retirement System increased its stake in shares of Ginkgo Bioworks by 1,663.2% in the 2nd quarter. California State Teachers Retirement System now owns 543,980 shares of the company’s stock valued at $54,892,000 after acquiring an additional 513,128 shares in the last quarter. AXQ Capital LP acquired a new stake in Ginkgo Bioworks in the second quarter worth $262,000. Balance Capital Partners L.P. bought a new stake in Ginkgo Bioworks in the second quarter valued at $1,972,179. Entropy Technologies LP bought a new stake in Ginkgo Bioworks in the first quarter valued at $67,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Ginkgo Bioworks during the first quarter valued at about $616,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.