Twist Bioscience (NASDAQ:TWST) Trading 6.4% Higher – Here’s Why

Twist Bioscience Corporation (NASDAQ:TWST) was up 6.4% on Wednesday . The company traded as high as $33.42 and last traded at $33.1150. Approximately 474,598 shares traded hands during trading, a decline of 65% from the average daily volume of 1,345,351 shares. The stock had previously closed at $31.13.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TWST. Barclays boosted their price objective on shares of Twist Bioscience from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday. Stephens started coverage on Twist Bioscience in a report on Monday, November 3rd. They set an “overweight” rating and a $41.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Twist Bioscience in a research report on Monday. Finally, Evercore ISI lowered their price objective on Twist Bioscience from $46.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Eight analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Twist Bioscience presently has a consensus rating of “Moderate Buy” and an average price target of $44.88.

Twist Bioscience Stock Performance

The business has a fifty day moving average of $30.91 and a 200-day moving average of $31.13. The company has a market cap of $2.02 billion, a PE ratio of -25.26 and a beta of 2.24. The company has a current ratio of 3.64, a quick ratio of 3.33 and a debt-to-equity ratio of 0.03.

Twist Bioscience (NASDAQ:TWST) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.05). Twist Bioscience had a negative return on equity of 27.40% and a negative net margin of 20.63%.The business had revenue of $99.01 million during the quarter, compared to the consensus estimate of $97.40 million. Equities research analysts anticipate that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

Insider Activity at Twist Bioscience

In other news, CFO Adam Laponis sold 5,875 shares of Twist Bioscience stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $32.19, for a total transaction of $189,116.25. Following the sale, the chief financial officer owned 97,042 shares of the company’s stock, valued at approximately $3,123,781.98. The trade was a 5.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Paula Green sold 9,724 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $32.19, for a total transaction of $313,015.56. Following the completion of the transaction, the senior vice president directly owned 114,678 shares of the company’s stock, valued at approximately $3,691,484.82. The trade was a 7.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 119,110 shares of company stock valued at $3,783,237 in the last 90 days. 3.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Twist Bioscience in the 3rd quarter valued at approximately $28,000. Smartleaf Asset Management LLC raised its holdings in Twist Bioscience by 70.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,068 shares of the company’s stock worth $29,000 after purchasing an additional 442 shares in the last quarter. National Bank of Canada FI bought a new position in Twist Bioscience in the third quarter worth $46,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Twist Bioscience by 15.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,315 shares of the company’s stock valued at $85,000 after buying an additional 302 shares during the period. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Twist Bioscience during the 2nd quarter valued at $97,000.

Twist Bioscience Company Profile

Twist Bioscience Corporation engages in the manufacture and sale of synthetic DNA-based products. The company offers synthetic genes and gene fragments used in product development for therapeutics, diagnostics, chemicals/materials, food/agriculture, data storage, and various applications within academic research by biotech, pharma, industrial chemical, and agricultural companies, as well as academic labs; Oligo pools used in targeted NGS, CRISPR gene editing, mutagenesis experiments, DNA origami, DNA computing, data storage in DNA, and other applications; and immunoglobulin G proteins for customers focused on the pursuit of drug discovery and development.