Twist Bioscience (NASDAQ:TWST) Sets New 1-Year High – Here’s What Happened

Twist Bioscience Corporation (NASDAQ:TWST) hit a new 52-week high during trading on Thursday . The company traded as high as $155.59 and last traded at $158.71, with a volume of 244760 shares trading hands. The stock had previously closed at $143.07.

Analyst Ratings Changes

Several research analysts recently commented on the company. Robert W. Baird raised their target price on Twist Bioscience from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Piper Sandler boosted their price target on shares of Twist Bioscience from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. TD Cowen restated a “buy” rating on shares of Twist Bioscience in a research note on Monday, August 3rd. Evercore downgraded shares of Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price objective for the company. in a report on Monday, July 6th. Finally, BWS Financial started coverage on shares of Twist Bioscience in a research report on Wednesday, September 9th. They set a “sell” rating and a $45.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Twist Bioscience currently has a consensus rating of “Moderate Buy” and an average price target of $103.00.

Twist Bioscience Stock Performance

The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $116.22 and a 200-day moving average price of $81.44. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of -72.55 and a beta of 2.22.

Twist Bioscience (NASDAQ:TWST) last announced its quarterly 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 company had revenue of $118.38 million during the quarter, compared to analyst estimates of $114.55 million. During the same period in the prior year, the firm earned $0.33 EPS. Twist Bioscience’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, analysts anticipate that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Adam Laponis sold 2,399 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $94.33, for a total value of $226,297.67. Following the sale, the chief financial officer owned 110,276 shares in the company, valued at approximately $10,402,335.08. The trade was a 2.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Emily M. Leproust sold 113,318 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $125.16, for a total transaction of $14,182,880.88. Following the completion of the sale, the chief executive officer owned 818,938 shares in the company, valued at $102,498,280.08. This represents a 12.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 193,109 shares of company stock valued at $24,049,024 in the last ninety days. Insiders own 3.08% of the company’s stock.

Institutional Trading of Twist Bioscience

Several large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in Twist Bioscience during the 2nd quarter worth approximately $3,333,000. Integrated Wealth Concepts LLC bought a new position in Twist Bioscience in the 2nd quarter valued at $99,000. Allworth Financial LP raised its position in Twist Bioscience by 54.9% in the 2nd quarter. Allworth Financial LP now owns 601 shares of the company’s stock valued at $62,000 after purchasing an additional 213 shares during the last quarter. Nykredit A S acquired a new position in Twist Bioscience in the second quarter worth $283,000. Finally, Allianz Asset Management GmbH acquired a new position in Twist Bioscience in the second quarter worth $1,327,000.

About Twist Bioscience

Twist Bioscience Corporation is a biotechnology company that develops and manufactures synthetic DNA using a proprietary silicon-based platform. The company serves researchers and organizations in biotechnology, pharmaceutical development, agriculture, industrial chemicals and academic research.

Its products include synthetic genes, gene fragments, oligonucleotides and DNA libraries used in research, drug discovery, diagnostics development and other applications. Twist also provides next-generation sequencing tools and products, including target-enrichment and sample-preparation solutions, as well as synthetic biology services that support the design and testing of biological systems.

Twist was founded in 2013 and is headquartered in South San Francisco, California.