Ginkgo Bioworks price target lowered to $7 from $8 at BTIG

BTIG analyst Mark Massaro lowered the firm’s price target on Ginkgo Bioworks to $7 from $8 and keeps a Sell rating on the shares. Ginkgo effected its 1-for-40 reverse stock split, which reduced the company’s share count from 2 billion to 51 million, the analyst tells investors in a research note. The firm looks to get more visibility on Ginkgo’s monetization success of its cell engineering programs across its business.