Ginkgo Bioworks price target lowered to $6 from $7 at BTIG

BTIG analyst Mark Massaro lowered the firm’s price target on Ginkgo Bioworks (DNA) to $6 from $7 and keeps a Sell rating on the shares after its Q3 results. The company has parted way with 35% of its staff and its growth opportunities are now unclear, the analyst tells investors in a research note. BTIG adds it might obtain some new disclosures or guideposts in early 2025 to help it understand the value of Ginkgo’s newer customer contracts and newer commercial business model.