Twist Bioscience (NASDAQ:TWST) Sets New 52-Week High – Here’s What Happened

Twist Bioscience Corporation (NASDAQ:TWST)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $121.50 and last traded at $122.1710, with a volume of 333988 shares. The stock had previously closed at $115.67.

Analyst Upgrades and Downgrades

TWST has been the topic of several recent research reports. Evercore lowered 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. TD Cowen reaffirmed a “buy” rating on shares of Twist Bioscience in a research note on Monday, August 3rd. Barclays boosted their price objective on shares of Twist Bioscience from $65.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Finally, Canaccord Genuity Group raised their target price on shares of Twist Bioscience from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Eight equities research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.30.

Twist Bioscience Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.38. The stock has a market capitalization of $7.72 billion, a PE ratio of -55.46 and a beta of 2.14. The firm has a fifty day moving average price of $91.49 and a two-hundred day moving average price of $65.64.

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

Insider Activity at Twist Bioscience

In related news, CFO Adam Laponis sold 2,399 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $94.33, for a total value of $226,297.67. Following the transaction, the chief financial officer owned 110,276 shares of the company’s stock, valued at $10,402,335.08. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paula Green sold 291 shares of Twist Bioscience stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $87.32, for a total transaction of $25,410.12. Following the sale, the senior vice president owned 120,414 shares of the company’s stock, valued at $10,514,550.48. The trade was a 0.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 38,211 shares of company stock valued at $3,525,891 over the last ninety days. Company insiders own 3.08% of the company’s stock.

Hedge Funds Weigh In On Twist Bioscience

Institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Twist Bioscience in the third quarter valued at approximately $28,000. Western Wealth Management LLC bought a new position in Twist Bioscience in the first quarter worth approximately $31,000. Strs Ohio purchased a new position in Twist Bioscience during the 1st quarter worth $33,000. Strategic Advocates LLC increased its holdings in Twist Bioscience by 562.7% during the 4th quarter. Strategic Advocates LLC now owns 1,067 shares of the company’s stock worth $34,000 after purchasing an additional 906 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in Twist Bioscience by 68.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company’s stock valued at $44,000 after purchasing an additional 571 shares in the last quarter.

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.