Twist Bioscience (NASDAQ:TWST) Shares Climb 6.6% – Here’s What Happened

Twist Bioscience Corporation (NASDAQ:TWST)’s stock price rose 6.6% on Wednesday. The stock traded as high as $152.71 and last traded at $152.1040. 989,822 shares traded hands during trading, a decline of 42% from the average daily volume of 1,721,019 shares. The stock had previously closed at $142.70.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TWST shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Twist Bioscience in a report on Monday, September 21st. Canaccord Genuity Group raised their price target on shares of Twist Bioscience from $120.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, October 12th. TD Cowen lifted their price objective on shares of Twist Bioscience from $115.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. 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 research report on Monday, July 6th. Finally, Jefferies Financial Group initiated coverage on shares of Twist Bioscience in a research report on Thursday, October 8th. They issued a “hold” rating and a $150.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Twist Bioscience has a consensus rating of “Hold” and a consensus price target of $143.67.

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 firm has a fifty day simple moving average of $149.46 and a 200 day simple moving average of $102.87. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of -61.02 and a beta of 2.19.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.05). The business had revenue of $118.38 million during 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%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. On average, analysts anticipate that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

Insider Transactions at Twist Bioscience

In related news, SVP Paula Green sold 10,088 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $188.88, for a total value of $1,905,421.44. Following the completion of the sale, the senior vice president owned 106,632 shares of the company’s stock, valued at approximately $20,140,652.16. The trade was a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dennis Cho sold 9,514 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $188.88, for a total transaction of $1,797,004.32. Following the transaction, the insider owned 63,789 shares of the company’s stock, valued at $12,048,466.32. This represents a 12.98% decrease in their ownership of the stock. 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 601,920 shares of company stock worth $93,768,202 in the last ninety days. Company insiders own 3.08% of the company’s stock.

Institutional Trading of Twist Bioscience

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in shares of Twist Bioscience during the 3rd quarter worth about $33,000. GAMMA Investing LLC lifted its stake in Twist Bioscience by 24.4% in the 2nd quarter. GAMMA Investing LLC now owns 943 shares of the company’s stock valued at $97,000 after buying an additional 185 shares in the last quarter. Abel Hall LLC boosted its holdings in Twist Bioscience by 3.6% in the 3rd quarter. Abel Hall LLC now owns 5,514 shares of the company’s stock worth $1,066,000 after buying an additional 191 shares during the last quarter. Allworth Financial LP boosted its holdings in Twist Bioscience by 54.9% in the 2nd quarter. Allworth Financial LP now owns 601 shares of the company’s stock worth $62,000 after buying an additional 213 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Twist Bioscience by 89.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 958 shares of the company’s stock worth $46,000 after buying an additional 453 shares in the last quarter.

Twist Bioscience Company Profile

Twist Bioscience Corporation is a biotechnology company that develops and manufactures synthetic DNA and related products for life sciences research. The company uses a proprietary silicon-based platform to produce high-quality DNA at scale, supporting applications in synthetic biology, drug discovery and development, agriculture, and academic and industrial research.

Its offerings include synthetic genes, oligonucleotides, gene fragments, variant libraries, and antibody discovery products.