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

Key Points

• Wall Street Zen upgraded Ginkgo Bioworks from “sell” to “hold,” but the broader analyst consensus remains “Reduce,” with an average price target of $6.33.
• Ginkgo reported a quarterly loss of $0.75 per share, beating estimates of a $0.90 loss, while revenue of $20.16 million fell short of the $24.05 million consensus forecast.
• The stock opened at $10.59 after rising 3.3%; the company remains deeply unprofitable, with a negative net margin of 259.96%, and an insider recently sold 5,000 shares.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. TD Cowen downgraded shares of Ginkgo Bioworks from a "buy" rating to a "hold" rating and lowered their price target for the stock from $12.00 to $9.00 in a report on Friday, August 7th. Oppenheimer set a $5.00 price target on Ginkgo Bioworks in a research report on Wednesday, September 9th. Zacks Research upgraded shares of Ginkgo Bioworks to a "hold" rating in a research report on Monday, August 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ginkgo Bioworks in a report on Friday, July 17th. Finally, BTIG Research reiterated a "sell" rating and issued a $5.00 target price on shares of Ginkgo Bioworks in a research report on Friday, September 4th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $6.33.

Ginkgo Bioworks Trading Up 3.3%

Shares of NYSE:DNA opened at $10.59 on Friday. The stock's fifty day simple moving average is $7.64 and its two-hundred day simple moving average is $7.97. Ginkgo Bioworks has a 1-year low of $5.37 and a 1-year high of $17.58. The stock has a market cap of $712.93 million, a PE ratio of -2.11 and a beta of 1.76.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.15. The company had revenue of $20.16 million during the quarter, compared to the consensus estimate of $24.05 million. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. On average, sell-side analysts forecast that Ginkgo Bioworks will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Ginkgo Bioworks

In other news, Director Christian Henry sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $7.08, for a total value of $35,400.00. Following the transaction, the director owned 19,310 shares in the company, valued at approximately $136,714.80. This trade represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.69% of the company's stock.

Institutional Investors Weigh In On Ginkgo Bioworks

Large investors have recently added to or reduced their stakes in the company. Strategic Advocates LLC boosted its holdings in shares of Ginkgo Bioworks by 808.9% during the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company's stock worth $36,000 after purchasing an additional 3,899 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Ginkgo Bioworks in the 2nd quarter worth approximately $50,000. Entropy Technologies LP bought a new stake in shares of Ginkgo Bioworks in the 1st quarter worth approximately $67,000. Boston Standard Wealth Management LLC bought a new stake in shares of Ginkgo Bioworks in the 1st quarter worth approximately $97,000. Finally, AXQ Capital LP purchased a new position in shares of Ginkgo Bioworks during the fourth quarter valued at approximately $100,000. Institutional investors own 78.63% of the company's stock.

About Ginkgo Bioworks

Ginkgo Bioworks is a biotechnology company that develops and operates a platform for programming cells. Its technology combines biological engineering, automation, software and data science to help customers design, build and test microorganisms and other biological systems for commercial applications.

The company provides cell-programming services and related tools to customers in areas including pharmaceuticals, agriculture, food and ingredients, industrial chemicals, materials and consumer products.

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