Twist Bioscience (NASDAQ:TWST) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Twist Bioscience Corporation (NASDAQ:TWST)’s share price passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $151.01 and traded as high as $162.61. Twist Bioscience shares last traded at $159.85, with a volume of 1,755,741 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TWST shares. Leerink Partners lifted their price target on Twist Bioscience from $160.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Evercore downgraded Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price objective for the company. in a research note on Monday, July 6th. Guggenheim increased their price objective on Twist Bioscience from $107.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Canaccord Genuity Group raised their price objective on Twist Bioscience from $120.00 to $205.00 and gave the company a “buy” rating in a report on Monday, October 12th. Finally, UBS Group initiated coverage on shares of Twist Bioscience in a research note on Wednesday, September 9th. They set a “neutral” rating and a $144.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Twist Bioscience currently has a consensus rating of “Hold” and an average price target of $143.67.

Twist Bioscience Price Performance

The firm has a fifty day moving average of $151.01 and a 200 day moving average of $86.87.

Twist Bioscience (NASDAQ:TWST) last announced 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 company had revenue of $118.38 million during the quarter, compared to analysts’ expectations of $114.55 million. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. Research analysts forecast that Twist Bioscience Corporation will post -2.12 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Paula Green sold 10,088 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $188.88, for a total transaction of $1,905,421.44. Following the transaction, 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 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, CFO Adam Laponis sold 2,462 shares of the business’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $156.30, for a total transaction of $384,810.60. Following the transaction, the chief financial officer directly owned 98,114 shares in the company, valued at approximately $15,335,218.20. The trade was a 2.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 601,920 shares of company stock worth $93,768,202. 3.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Twist Bioscience

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Twist Bioscience in the second quarter valued at approximately $600,191,000. William Blair Investment Management LLC acquired a new stake in shares of Twist Bioscience during the 2nd quarter worth about $223,722,000. Bank of America Corp DE acquired a new stake in shares of Twist Bioscience during the 2nd quarter worth about $94,922,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Twist Bioscience during the 1st quarter worth about $22,563,000. Finally, Sei Investments Co. increased its position in shares of Twist Bioscience by 31.2% during the 1st quarter. Sei Investments Co. now owns 354,420 shares of the company’s stock worth $16,842,000 after purchasing an additional 84,321 shares during the last quarter.

About Twist Bioscience

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.