ZY - Zymergen stock slides after GS UBS lower price target

Zymergen (ZY -5.3%) stock has plunged after two brokerages lowered price target on the biotechnology firm. UBS Group cut its price target on the stock, from $13.00 to $4.00 while maintaining a "Neutral" rating. The Goldman Sachs also maintained its "Neutral" rating on Zymergen, but lowered the PT to $6 from $10.50. The PT revisions follows the firm's Q4 prelim results. Zymergen reported Q4 GAAP EPS of -$0.76 that topped Wall Street estimates, however revenue of $3.04M (-48.6% Y/Y) missed estimates by $0.3M. Net losses for the year widened from $262.19M in 2020 to $361.78M. ZY has slid 91.45% over the past one year and is down 54.13% YTD.

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Zymergen stock slides after GS, UBS lower price target