Ginkgo Bioworks Slips 2.57% as Investors Await Earnings
The stock fell while Zacks’ estimates pointed to lower quarterly revenue and a smaller loss compared with the year-earlier period.
Ginkgo Bioworks shares fell 2.57% to close at $12.50, underperforming the S&P 500, which gained 0.2%. The Dow and Nasdaq each rose 0.04%.
Before the latest session, the shares had gained 82.5%, while the Medical sector had lost 1.75% and the S&P 500 had fallen 0.35%.
Ahead of the company’s upcoming earnings report, Zacks’ consensus estimates call for an EPS of -$0.58 and revenue of $20.5 million. Zacks said the expected loss would be a 60% improvement from the year-earlier quarter, while revenue would be down 47.22%.
For the full year, Zacks’ estimates point to a loss of $3.20 per share and revenue of $82.2 million. Those figures would represent changes of 43.26% and negative 51.69%, respectively, from the prior year.
Zacks said its consensus estimate for earnings per share had not changed over the past month.
This article was produced with the help of AI technology.
Source: Yahoo Finance
