TD Cowen Cuts Ginkgo Bioworks (NYSE:DNA) Price Target to $12.00
by Tristan Rich · The Markets DailyGinkgo Bioworks (NYSE:DNA – Free Report) had its price objective cut by TD Cowen from $14.00 to $12.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.
Several other equities analysts have also commented on DNA. Weiss Ratings reissued a “sell (d-)” rating on shares of Ginkgo Bioworks in a report on Wednesday, October 8th. Wall Street Zen cut shares of Ginkgo Bioworks from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.50.
Read Our Latest Stock Report on Ginkgo Bioworks
Ginkgo Bioworks Stock Performance
Shares of DNA opened at $9.29 on Thursday. Ginkgo Bioworks has a 1 year low of $5.00 and a 1 year high of $17.58. The stock has a market capitalization of $562.58 million, a PE ratio of -1.49 and a beta of 1.55. The company’s 50-day simple moving average is $8.95 and its 200-day simple moving average is $11.19.
Ginkgo Bioworks (NYSE:DNA – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.24) by ($0.21). Ginkgo Bioworks had a negative net margin of 188.00% and a negative return on equity of 51.15%. The company had revenue of $38.84 million during the quarter, compared to analyst estimates of $38.95 million. On average, sell-side analysts predict that Ginkgo Bioworks will post -10.02 earnings per share for the current year.
Institutional Trading of Ginkgo Bioworks
Large investors have recently modified their holdings of the business. Quarry LP acquired a new stake in Ginkgo Bioworks during the 3rd quarter valued at $29,000. Raymond James Financial Inc. acquired a new position in Ginkgo Bioworks during the second quarter worth approximately $29,000. Strs Ohio purchased a new position in shares of Ginkgo Bioworks in the 3rd quarter worth $44,000. Ameritas Investment Partners Inc. acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at about $45,000. Finally, Daiwa Securities Group Inc. acquired a new position in Ginkgo Bioworks during the second quarter valued at approximately $71,000. 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.