Twist Bioscience (NASDAQ:TWST) Shares Gap Down – Here’s What Happened

Twist Bioscience Corporation (NASDAQ:TWST)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $142.39, but opened at $136.84. Twist Bioscience shares last traded at $139.4790, with a volume of 553,553 shares.

Wall Street Analysts Forecast Growth

TWST has been the subject of several recent research reports. Robert W. Baird upped their price target on shares of Twist Bioscience from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Piper Sandler upped their target price on Twist Bioscience from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Barclays raised their target price on Twist Bioscience from $65.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Guggenheim lifted their target price on Twist Bioscience from $60.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Evercore cut Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price target on the stock. in a report on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.30.

Twist Bioscience Stock Up 6.8%

The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -65.58 and a beta of 2.14. The firm’s fifty day moving average price is $100.69 and its two-hundred day moving average price is $70.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.38.

Twist Bioscience (NASDAQ:TWST) last issued its earnings results on Monday, August 3rd. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.05). Twist Bioscience had a negative net margin of 31.66% and a negative return on equity of 28.64%. The firm had revenue of $118.38 million during the quarter, compared to analyst estimates of $114.55 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 23.2% on a year-over-year basis. Sell-side analysts forecast that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

Insider Transactions at Twist Bioscience

In other Twist Bioscience news, CFO Adam Laponis sold 2,399 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $94.33, for a total value of $226,297.67. Following the completion of the sale, the chief financial officer owned 110,276 shares of the company’s stock, valued at approximately $10,402,335.08. This trade represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paula Green sold 291 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $87.32, for a total value of $25,410.12. Following the completion of the sale, the senior vice president directly owned 120,414 shares of the company’s stock, valued at $10,514,550.48. This trade represents a 0.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 151,529 shares of company stock worth $17,708,772 in the last three months. Insiders own 3.08% of the company’s stock.

Institutional Trading of Twist Bioscience

Hedge funds have recently bought and sold shares of the business. Nykredit A S bought a new stake in Twist Bioscience during the 2nd quarter valued at $283,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Twist Bioscience in the second quarter valued at $3,517,000. Two Sigma Securities LLC bought a new position in shares of Twist Bioscience in the second quarter valued at $322,000. Empowered Funds LLC acquired a new position in shares of Twist Bioscience during the second quarter valued at about $214,000. Finally, Corient Private Wealth LP bought a new stake in shares of Twist Bioscience during the second quarter worth about $2,226,000.

About Twist Bioscience

Twist Bioscience Corporation is a synthetic biology company specializing in the development and commercialization of DNA-based products and solutions. Founded in 2013 and headquartered in South San Francisco, California, the company has pioneered a proprietary silicon-based DNA synthesis platform designed for high-throughput production of synthetic genes and oligonucleotides. Twist leverages semiconductor manufacturing techniques to enable precise, scalable synthesis of DNA at speeds and volumes unattainable with traditional methods.

At the core of Twist’s offering is its proprietary platform that automates the synthesis of custom DNA fragments, gene libraries, and long oligonucleotides.