Twist Bioscience (NASDAQ:TWST) Trading 10.3% Higher – Here’s Why

Shares of Twist Bioscience Co. (NASDAQ:TWST) traded up 10.3% during trading on Tuesday . The company traded as high as $39.70 and last traded at $40.48. 1,102,103 shares traded hands during trading, an increase of 12% from the average session volume of 986,587 shares. The stock had previously closed at $36.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays set a $58.00 price objective on Twist Bioscience and gave the company an “overweight” rating in a report on Monday, February 3rd. Scotiabank reaffirmed an “outperform” rating on shares of Twist Bioscience in a research note on Tuesday, February 4th. Wolfe Research assumed coverage on shares of Twist Bioscience in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price for the company. Robert W. Baird boosted their price target on shares of Twist Bioscience from $48.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Finally, TD Cowen restated a “buy” rating and issued a $58.00 price objective on shares of Twist Bioscience in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.40.

Twist Bioscience Trading Down 0.5 %

The company has a quick ratio of 4.62, a current ratio of 4.96 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -11.57 and a beta of 2.15. The firm has a 50 day moving average price of $46.04 and a two-hundred day moving average price of $45.35.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.09. The company had revenue of $88.70 million during the quarter, compared to analysts’ expectations of $86.96 million. Twist Bioscience had a negative net margin of 59.76% and a negative return on equity of 32.69%. Twist Bioscience’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.75) earnings per share. As a group, equities analysts forecast that Twist Bioscience Co. will post -2.12 earnings per share for the current year.

Insider Activity at Twist Bioscience

In other news, CFO Adam Laponis sold 5,886 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $43.26, for a total transaction of $254,628.36. Following the completion of the transaction, the chief financial officer now directly owns 110,096 shares in the company, valued at $4,762,752.96. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Emily M. Leproust sold 2,402 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $40.91, for a total value of $98,265.82. Following the transaction, the chief executive officer now directly owns 662,692 shares in the company, valued at approximately $27,110,729.72. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,845 shares of company stock valued at $1,603,945 over the last ninety days. Corporate insiders own 3.01% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

A number of hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp boosted its position in Twist Bioscience by 56.4% during the fourth quarter. Van ECK Associates Corp now owns 740 shares of the company’s stock valued at $34,000 after buying an additional 267 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Twist Bioscience during the 3rd quarter valued at approximately $34,000. Banque Transatlantique SA purchased a new stake in Twist Bioscience in the fourth quarter worth $43,000. GF Fund Management CO. LTD. purchased a new stake in shares of Twist Bioscience in the 4th quarter worth about $58,000. Finally, US Bancorp DE lifted its position in Twist Bioscience by 72.0% during the 4th quarter. US Bancorp DE now owns 1,436 shares of the company’s stock valued at $67,000 after acquiring an additional 601 shares during the period.

About Twist Bioscience

Twist Bioscience Corporation engages in the manufacture and sale of synthetic DNA-based products. The company offers synthetic genes and gene fragments used in product development for therapeutics, diagnostics, chemicals/materials, food/agriculture, data storage, and various applications within academic research by biotech, pharma, industrial chemical, and agricultural companies, as well as academic labs; Oligo pools used in targeted NGS, CRISPR gene editing, mutagenesis experiments, DNA origami, DNA computing, data storage in DNA, and other applications; and immunoglobulin G proteins for customers focused on the pursuit of drug discovery and development.