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

BofA Securities Downgrades Zymergen Inc (ZY) to Underperform

BofA Securities analyst Derik de Bruin downgraded Zymergen Inc (NASDAQ: ZY) from Buy to Underperform with a price target of $7.00 (from $43.00).

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.

Cowen Downgrades Zymergen Inc (ZY) to Market Perform

Cowen analyst Doug Schenkel 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.

UPDATE: Goldman Sachs Downgrades Zymergen Inc (ZY) to Neutral

(Updated - August 4, 2021 5:05 AM EDT)

Goldman Sachs analyst Matthew Sykes downgraded Zymergen Inc (NASDAQ: ZY) from Buy to Neutral with a price target of $12.00 (from $55.00).

The analyst comments "We downgrade shares of ZY to Neutral from Buy as we... More

William Blair Downgrades Zymergen Inc (ZY) to Market Perform

William 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.

JPMorgan Downgrades Zymergen Inc (ZY) to Neutral

JPMorgan 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.

HSBC Downgrades Zymergen Inc (ZY) to Reduce

HSBC 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.

After-Hours Stock Movers 08/03: (CERS) (NVTA) (ATVI) Higher; (ZY) (LPSN) (OSUR) Lower (more...)

After-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

Zymergen 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

Zymergen (NASDAQ: ZY) Halted, News Pending