BTIG analyst Mark Massaro lowered the firm's price target on Ginkgo Bioworks to $5 from $9 and keeps a Sell rating on the shares. The company announced the divestiture of its biosecurity business, which limits its guidance to cash burn, the analyst tells investors in a research note. BTIG adds, however, that it is now looking for greater visibility into Ginkgo's progress to build out and monetize autonomous labs.
