Twist Bioscience (NASDAQ:TWST) Reaches New 1-Year High – Here’s What Happened

Twist Bioscience Corporation (NASDAQ:TWST)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $121.50 and last traded at $122.1710, with a volume of 333988 shares changing hands. The stock had previously closed at $115.67.

Wall Street Analysts Forecast Growth

TWST has been the subject of several analyst reports. Guggenheim upped their target price on Twist Bioscience from $60.00 to $107.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. UBS Group set a $89.00 target price on Twist Bioscience in a report on Monday, June 15th. TD Cowen reissued a “buy” rating on shares of Twist Bioscience in a research report on Monday, August 3rd. Finally, Evercore cut Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price target for the company. in a report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.30.

Twist Bioscience Price Performance

The stock has a market cap of $7.70 billion, a PE ratio of -55.33 and a beta of 2.14. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $89.29 and its 200-day moving average is $64.50.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.05). The firm 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 business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, sell-side analysts predict that Twist Bioscience Corporation will post -2.12 earnings per share for the current year.

Insiders Place Their Bets

In other Twist Bioscience news, insider Dennis Cho sold 14,205 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $89.75, for a total transaction of $1,274,898.75. Following the completion of the sale, the insider owned 105,141 shares in the company, valued at $9,436,404.75. This trade represents a 11.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Adam Laponis sold 2,399 shares of Twist Bioscience stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $94.33, for a total value of $226,297.67. Following the sale, the chief financial officer owned 110,276 shares in the company, valued at $10,402,335.08. This represents a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 50,211 shares of company stock valued at $4,199,331. Insiders own 3.08% of the company’s stock.

Hedge Funds Weigh In On Twist Bioscience

Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new stake in shares of Twist Bioscience during the second quarter worth approximately $162,000. BlackRock Inc. acquired a new stake in shares of Twist Bioscience in the 2nd quarter valued at about $600,191,000. Deutsche Bank AG acquired a new stake in shares of Twist Bioscience in the 2nd quarter valued at about $9,265,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Twist Bioscience during the second quarter worth about $2,828,000. Finally, Bank of New York Mellon Corp acquired a new position in Twist Bioscience in the second quarter worth about $19,722,000.

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.