Ginkgo Bioworks Holdings, Inc. (DNA) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

13 October 2022 at 6:15 pm·2-min read

Ginkgo Bioworks Holdings, Inc. (DNA) closed at $2.84 in the latest trading session, marking a -0.35% move from the prior day. This move lagged the S&P 500's daily gain of 2.6%. Meanwhile, the Dow gained 2.83%, and the Nasdaq, a tech-heavy index, lost 0.05%.

Coming into today, shares of the company had lost 7.17% in the past month. In that same time, the Medical sector lost 8.72%, while the S&P 500 lost 12.9%.

Wall Street will be looking for positivity from Ginkgo Bioworks Holdings, Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.16, down 128.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $54.28 million, down 30.07% from the year-ago period.

DNA's full-year Zacks Consensus Estimates are calling for earnings of -$0.79 per share and revenue of $418.55 million. These results would represent year-over-year changes of -426.67% and +33.37%, respectively.

Any recent changes to analyst estimates for Ginkgo Bioworks Holdings, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 98.5% lower within the past month. Ginkgo Bioworks Holdings, Inc. is holding a Zacks Rank of #5 (Strong Sell) right now.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow DNA in the coming trading sessions, be sure to utilize Zacks.com.

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