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

Twist Bioscience Corporation (NASDAQ:TWST) gapped down before the market opened on Thursday. The stock had previously closed at $148.16, but opened at $138.09. Twist Bioscience shares last traded at $137.7410, with a volume of 672,363 shares traded.

Analyst Ratings Changes

TWST has been the subject of a number of recent research reports. TD Cowen raised their target price on Twist Bioscience from $115.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler upped their price objective 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. BWS Financial reissued a “sell” rating and issued a $45.00 price objective on shares of Twist Bioscience in a report on Friday, September 18th. Leerink Partners raised their price objective on shares of Twist Bioscience from $160.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Finally, Jefferies Financial Group assumed coverage on shares of Twist Bioscience in a research note on Thursday, October 8th. They set a “hold” rating and a $150.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $143.67.

Twist Bioscience Stock Down 4.2%

The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of -63.88 and a beta of 2.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.38. The business has a fifty day moving average of $147.04 and a 200 day moving average of $98.93.

Twist Bioscience (NASDAQ:TWST) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.05). Twist Bioscience had a negative net margin of 31.66% and a negative return on equity of 28.64%. The business had revenue of $118.38 million during the quarter, compared to analyst estimates of $114.55 million. During the same period last year, the company earned $0.33 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities analysts predict that Twist Bioscience Corporation will post -2.12 earnings per share for the current year.

Insider Activity

In other Twist Bioscience news, CAO Robert F. Werner sold 1,482 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $188.88, for a total transaction of $279,920.16. Following the completion of the transaction, the chief accounting officer owned 42,917 shares of the company’s stock, valued at $8,106,162.96. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paula Green sold 10,088 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $188.88, for a total transaction of $1,905,421.44. Following the transaction, the senior vice president directly owned 106,632 shares of the company’s stock, valued at approximately $20,140,652.16. This trade represents a 8.64% decrease in their position. 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 ninety days, insiders sold 601,920 shares of company stock worth $93,768,202. 3.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TWST. Allworth Financial LP purchased a new stake in shares of Twist Bioscience in the 2nd quarter valued at $62,000. Trifecta Capital Advisors LLC acquired a new position in Twist Bioscience during the 2nd quarter worth about $63,000. Western Wealth Management LLC purchased a new position in Twist Bioscience during the 1st quarter valued at about $31,000. Strs Ohio purchased a new position in Twist Bioscience during the 1st quarter valued at about $33,000. Finally, GAMMA Investing LLC boosted its holdings in Twist Bioscience by 24.4% during the 2nd quarter. GAMMA Investing LLC now owns 943 shares of the company’s stock valued at $97,000 after acquiring an additional 185 shares during the period.

About Twist Bioscience

Twist Bioscience Corporation (NASDAQ:TWST) is a biotechnology company that develops and manufactures synthetic DNA using a silicon-based production platform. Its technology is designed to enable the precise, high-throughput synthesis of DNA at smaller scale and with potentially lower material consumption than traditional methods.

The company provides synthetic DNA products and services for applications in drug discovery and development, biotechnology research, agriculture, industrial chemicals and other life sciences markets.