UPDATE: Goldman Sachs Downgrades Zymergen Inc (ZY) to Neutral
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Softbank-Backed Zymergen (ZY) Crashes Over 70% as CEO Departs, Product Revenue Not Possible in 2021 and 'Immaterial' in 2022, At Least 6 Firms Downgrade
August 4, 2021 7:14 AM EDTShares of Zymergen (NASDAQ: ZY) are down more than 70% in pre-open Wednesday after the company said it no longer expects product revenue in 2021, while the same will be immaterial in 2022.
During the quarter, several key target customers encountered technical issues in implementing Hyaline into their manufacturing processes typical of new product and process development learnings. The Company has made significant progress towards addressing these challenges and believes there are no intrinsic technical issues with Hyaline. However, this issue has resulted in a delay in the Companys commercial ramp. Zymergen is working to strengthen... More
William Blair Downgrades Zymergen Inc (ZY) to Market Perform
August 4, 2021 4:13 AM EDTWilliam Blair analyst Matt Larew downgraded Zymergen Inc (NASDAQ: ZY) from Outperform to Market Perform.
For an analyst ratings summary and ratings history on Zymergen Inc click here. For more ratings news on Zymergen Inc click here.
Shares of Zymergen Inc closed at $34.83 yesterday.
... MoreJPMorgan Downgrades Zymergen Inc (ZY) to Neutral
August 4, 2021 3:44 AM EDTJPMorgan analyst Tycho Peterson downgraded Zymergen Inc (NASDAQ: ZY) from Overweight to Neutral with a price target of $12.00 (from $40.00).
For an analyst ratings summary and ratings history on Zymergen Inc click here. For more ratings news on Zymergen Inc click here.
Shares of Zymergen Inc closed at $34.83 yesterday.
... MoreHSBC Downgrades Zymergen Inc (ZY) to Reduce
August 4, 2021 3:34 AM EDTHSBC analyst Sriharsha Pappu downgraded Zymergen Inc (NASDAQ: ZY) from Hold to Reduce with a price target of $8.00 (from $42.00).
For an analyst ratings summary and ratings history on Zymergen Inc click here. For more ratings news on Zymergen Inc click here.
Shares of Zymergen Inc closed at $34.83 yesterday.
... MoreAfter-Hours Stock Movers 08/03: (CERS) (NVTA) (ATVI) Higher; (ZY) (LPSN) (OSUR) Lower (more...)
August 3, 2021 5:49 PM EDTAfter-Hours Stock Movers:
Zymergen (NASDAQ: ZY) 67% LOWER; no longer expects product revenue in 2021, announces CEO transition.
Cerus (NASDAQ: CERS) 13.5% HIGHER; reported Q2 EPS of ($0.09), in-line with the analyst estimate of ($0.09). Revenue for the quarter came in at $37.7 million versus the consensus estimate of $31.48 million. Cerus sees FY2021 revenue of $118-122 million, versus the consensus of $134.8 million.
LivePerson (NASDAQ: LPSN) 12.4% LOWER; reported Q2 GAAP EPS of ($0.31), which... More
Zymergen (ZY) no longer expects product revenue in 2021, announces CEO transition
August 3, 2021 4:17 PM EDTZymergen Inc. (Zymergen or the Company), today provided a business update regarding its commercial product pipeline and financial forecast.
Zymergen recently became aware of issues with its commercial product pipeline that will impact the Companys delivery timeline and revenue projections. Accordingly, the Company no longer expects product revenue in 2021, and expects product revenue to be immaterial in 2022.
During the quarter, several key target customers encountered technical issues in implementing Hyaline into their manufacturing processes typical of new product and process development learnings. The Company has made significant progress towards addressing these challenges and believes there are no intrinsic... More
Zymergen (ZY) Halted, News Pending
August 3, 2021 4:01 PM EDTZymergen (NASDAQ: ZY) Halted, News Pending
... More
