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Benzinga
Benzinga
Business
Priya Nigam

BofA Downgrades Ginkgo Bioworks, Cuts Price Target In Half

Ginkgo Bioworks BofA Foundry BofA Securities DNA Ginkgo Bioworks Holdings Inc NYSE de Bruin

While Ginkgo Bioworks Holdings Inc’s (NYSE:DNA) overall first-quarter results were better than expected, revenues and active programs in its core Foundry segment fell short of estimates, according to BofA Securities.

The Ginkgo Bioworks Analyst: Derik de Bruin downgraded the rating for Ginkgo Bioworks from Neutral to Underperform, while reducing the price target from $6 to $3.

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