Twist Bioscience (NASDAQ:TWST) Shares Down 4.5% – Here’s Why

Twist Bioscience Co. (NASDAQ:TWST)’s stock price traded down 4.5% during mid-day trading on Thursday . The company traded as low as $49.14 and last traded at $49.98. 52,931 shares were traded during trading, a decline of 92% from the average session volume of 646,642 shares. The stock had previously closed at $52.34.

Analyst Upgrades and Downgrades

TWST has been the topic of several research analyst reports. Wolfe Research started coverage on Twist Bioscience in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target on the stock. Leerink Partners upped their price target on shares of Twist Bioscience from $45.00 to $48.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. Scotiabank raised their price objective on shares of Twist Bioscience from $50.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 19th. Robert W. Baird upped their target price on shares of Twist Bioscience from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Evercore ISI raised their price target on Twist Bioscience from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Twist Bioscience has an average rating of “Moderate Buy” and a consensus target price of $51.90.

Twist Bioscience Price Performance

The stock’s 50-day moving average is $47.41 and its 200 day moving average is $46.43.

Insider Activity

In related news, CAO Robert F. Werner sold 1,448 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $44.60, for a total value of $64,580.80. Following the completion of the sale, the chief accounting officer now owns 45,620 shares in the company, valued at $2,034,652. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Paula Green sold 1,057 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $41.56, for a total transaction of $43,928.92. Following the transaction, the senior vice president now owns 121,013 shares in the company, valued at $5,029,300.28. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,379 shares of company stock valued at $4,026,346 in the last three months. 3.01% of the stock is currently owned by company insiders.

Institutional Trading of Twist Bioscience

Institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Twist Bioscience during the 3rd quarter worth $34,000. Signaturefd LLC increased its holdings in Twist Bioscience by 63.0% during the 3rd quarter. Signaturefd LLC now owns 792 shares of the company’s stock valued at $36,000 after acquiring an additional 306 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new position in Twist Bioscience during the third quarter worth about $95,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Twist Bioscience by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,119 shares of the company’s stock valued at $98,000 after purchasing an additional 381 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Twist Bioscience by 71.4% in the fourth quarter. KBC Group NV now owns 2,942 shares of the company’s stock valued at $137,000 after purchasing an additional 1,226 shares during the last quarter.

Twist Bioscience Company Profile

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.