Twist Bioscience (NASDAQ:TWST) Shares Down 4.3% – Here’s What Happened

Twist Bioscience Corporation (NASDAQ:TWST)’s stock price traded down 4.3% on Friday . The stock traded as low as $120.15 and last traded at $119.87. Approximately 78,880 shares were traded during trading, a decline of 95% from the average daily volume of 1,509,603 shares. The stock had previously closed at $125.29.

Analysts Set New Price Targets

A number of analysts recently issued reports on TWST shares. Leerink Partners set a $110.00 price target on Twist Bioscience in a research report on Thursday, July 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Evercore downgraded shares of Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 target price on the stock. in a research note on Monday, July 6th. Robert W. Baird lifted their price target on shares of Twist Bioscience from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler upped their price target on shares of Twist Bioscience from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.30.

Twist Bioscience Trading Down 4.7%

The stock has a fifty day moving average of $93.57 and a 200-day moving average of $66.79. The company has a market cap of $7.49 billion, a PE ratio of -53.72 and a beta of 2.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.38 and a current ratio of 2.67.

Twist Bioscience (NASDAQ:TWST) last released its earnings results 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). Twist Bioscience had a negative return on equity of 28.64% and a negative net margin of 31.66%.The business had revenue of $118.38 million during the quarter, compared to analysts’ expectations of $114.55 million. During the same quarter in the previous year, the business earned $0.33 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Sell-side analysts anticipate that Twist Bioscience Corporation will post -2.12 EPS for the current fiscal year.

Insider Activity at Twist Bioscience

In other Twist Bioscience news, insider Dennis Cho sold 14,205 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total value of $1,274,898.75. Following the completion of the sale, the insider directly owned 105,141 shares of the company’s stock, valued at $9,436,404.75. The trade was a 11.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Adam Laponis sold 2,399 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $94.33, for a total transaction of $226,297.67. Following the completion of the transaction, 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. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 151,529 shares of company stock valued at $17,708,772. Company insiders own 3.08% of the company’s stock.

Institutional Trading of Twist Bioscience

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Twist Bioscience in the third quarter valued at approximately $28,000. Western Wealth Management LLC purchased a new position in Twist Bioscience during the 1st quarter worth $31,000. Strs Ohio bought a new stake in Twist Bioscience during the 1st quarter valued at $33,000. Strategic Advocates LLC raised its position in Twist Bioscience by 562.7% during the 4th quarter. Strategic Advocates LLC now owns 1,067 shares of the company’s stock valued at $34,000 after purchasing an additional 906 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Twist Bioscience by 68.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company’s stock worth $44,000 after buying an additional 571 shares during the period.

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.