Twist Bioscience (NASDAQ:TWST) Trading Down 5.6% – Here’s What Happened

Twist Bioscience Co. (NASDAQ:TWST)’s share price dropped 5.6% during trading on Friday . The company traded as low as $37.42 and last traded at $36.98. Approximately 144,446 shares were traded during trading, a decline of 85% from the average daily volume of 941,669 shares. The stock had previously closed at $39.18.

Analyst Ratings Changes

A number of brokerages have recently commented on TWST. TD Cowen restated a “buy” rating and issued a $58.00 target price on shares of Twist Bioscience in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on shares of Twist Bioscience from $35.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Scotiabank reissued an “outperform” rating on shares of Twist Bioscience in a report on Tuesday, February 4th. Robert W. Baird lifted their price objective on shares of Twist Bioscience from $48.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Finally, Barclays set a $58.00 target price on shares of Twist Bioscience and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.40.

Twist Bioscience Stock Down 1.8 %

The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -11.36 and a beta of 2.15. The company has a current ratio of 4.96, a quick ratio of 4.62 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $46.71 and its two-hundred day simple moving average is $45.47.

Twist Bioscience (NASDAQ:TWST) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.09. Twist Bioscience had a negative net margin of 59.76% and a negative return on equity of 32.69%. The company had revenue of $88.70 million for the quarter, compared to analyst estimates of $86.96 million. During the same period in the prior year, the firm earned ($0.75) earnings per share. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. Sell-side analysts anticipate that Twist Bioscience Co. will post -2.12 EPS for the current year.

Insider Transactions at Twist Bioscience

In other Twist Bioscience news, Director Robert Chess sold 5,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the transaction, the director now owns 16,641 shares of the company’s stock, valued at $832,050. This represents a 23.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Emily M. Leproust sold 1,654 shares of Twist Bioscience stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $44.90, for a total value of $74,264.60. Following the completion of the sale, the chief executive officer now owns 673,064 shares of the company’s stock, valued at $30,220,573.60. This trade represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,007 shares of company stock worth $1,446,933 over the last ninety days. 3.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Twist Bioscience

Large investors have recently made changes to their positions in the business. Arizona State Retirement System grew its stake in Twist Bioscience by 1.3% during the 4th quarter. Arizona State Retirement System now owns 16,985 shares of the company’s stock valued at $789,000 after purchasing an additional 219 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Twist Bioscience by 56.4% in the fourth quarter. Van ECK Associates Corp now owns 740 shares of the company’s stock worth $34,000 after acquiring an additional 267 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in Twist Bioscience by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 78,000 shares of the company’s stock valued at $3,625,000 after purchasing an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Twist Bioscience by 2.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,243 shares of the company’s stock worth $734,000 after acquiring an additional 363 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C raised its holdings in shares of Twist Bioscience by 1.7% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 23,827 shares of the company’s stock valued at $1,107,000 after buying an additional 403 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.