Twist Bioscience (NASDAQ:TWST) Upgraded at Canaccord Genuity Group

Twist Bioscience (NASDAQ:TWST) was upgraded by equities research analysts at Canaccord Genuity Group to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts have also issued reports on the company. Leerink Partners set a $80.00 target price on Twist Bioscience in a report on Friday, May 22nd. UBS Group set a $89.00 price target on Twist Bioscience in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Twist Bioscience in a research note on Friday, March 27th. TD Cowen set a $89.00 price objective on Twist Bioscience in a report on Monday. Finally, Robert W. Baird raised their target price on shares of Twist Bioscience from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Twist Bioscience currently has a consensus rating of “Moderate Buy” and an average target price of $71.60.

Twist Bioscience Stock Up 6.1%

Shares of TWST stock opened at $80.79 on Monday. The company has a current ratio of 2.70, a quick ratio of 2.42 and a debt-to-equity ratio of 0.03. Twist Bioscience has a 1 year low of $23.30 and a 1 year high of $82.99. The firm’s fifty day moving average price is $60.28 and its two-hundred day moving average price is $47.93. The firm has a market capitalization of $5.03 billion, a P/E ratio of -60.74 and a beta of 2.23.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.22). The business had revenue of $110.72 million for the quarter, compared to analyst estimates of $107.64 million. Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.66) earnings per share. On average, equities analysts predict that Twist Bioscience will post -2.02 EPS for the current fiscal year.

Insider Activity at Twist Bioscience

In other news, insider Dennis Cho sold 402 shares of Twist Bioscience stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $69.84, for a total transaction of $28,075.68. Following the completion of the transaction, the insider directly owned 119,692 shares in the company, valued at approximately $8,359,289.28. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 8,061 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $65.29, for a total value of $526,302.69. Following the transaction, the chief executive officer directly owned 858,887 shares in the company, valued at $56,076,732.23. The trade was a 0.93% decrease in their ownership of the stock. 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 33,170 shares of company stock worth $1,948,964 in the last three months. 3.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On Twist Bioscience

Large investors have recently modified their holdings of the stock. Perceptive Advisors LLC bought a new stake in shares of Twist Bioscience during the 1st quarter worth about $7,128,000. Western Wealth Management LLC acquired a new position in Twist Bioscience in the 1st quarter valued at $31,000. Flax Pond Capital LLC bought a new position in Twist Bioscience during the 1st quarter worth $76,000. Bank of America Corp DE lifted its holdings in shares of Twist Bioscience by 46.3% during the first quarter. Bank of America Corp DE now owns 584,261 shares of the company’s stock worth $27,764,000 after buying an additional 184,907 shares in the last quarter. Finally, Oddo BHF Asset Management Sas raised its stake in Twist Bioscience by 7.6% in the 1st quarter. Oddo BHF Asset Management Sas now owns 145,960 shares of the company’s stock worth $6,936,000 after purchasing an additional 10,310 shares in the last quarter.

Twist Bioscience Company Profile

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.