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

Twist Bioscience Corporation (NASDAQ:TWST) hit 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 trading hands. The stock had previously closed at $115.67.

Analysts Set New Price Targets

TWST has been the topic of several recent analyst reports. Evercore lowered 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 report on Monday, July 6th. Leerink Partners set a $110.00 price target on shares of Twist Bioscience in a research report on Thursday, July 16th. Robert W. Baird boosted their price target on Twist Bioscience from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Guggenheim lifted their price objective on Twist Bioscience from $60.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Canaccord Genuity Group boosted their target price on Twist Bioscience from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.30.

Twist Bioscience Trading Up 6.2%

The business has a 50 day simple moving average of $89.29 and a two-hundred day simple moving average of $64.50. 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 has a market cap of $7.70 billion, a PE ratio of -55.33 and a beta of 2.14.

Twist Bioscience (NASDAQ:TWST) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.05). The business had revenue of $118.38 million during the quarter, compared to analyst estimates of $114.55 million. Twist Bioscience had a negative return on equity of 28.64% and a negative net margin of 31.66%.The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. On average, analysts forecast 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 Twist Bioscience stock in a transaction on 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 transaction, 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Paula Green sold 291 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $87.32, for a total transaction of $25,410.12. Following the sale, the senior vice president directly owned 120,414 shares of the company’s stock, valued at $10,514,550.48. This represents a 0.24% 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. Insiders have sold a total of 50,211 shares of company stock valued at $4,199,331 over the last 90 days. 3.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Twist Bioscience during the second quarter worth approximately $600,191,000. William Blair Investment Management LLC raised its stake in shares of Twist Bioscience by 43.7% in the 4th quarter. William Blair Investment Management LLC now owns 5,954,429 shares of the company’s stock valued at $188,874,000 after acquiring an additional 1,812,146 shares during the period. EdgePoint Investment Group Inc. raised its stake in shares of Twist Bioscience by 31.7% in the 4th quarter. EdgePoint Investment Group Inc. now owns 5,377,991 shares of the company’s stock valued at $170,590,000 after acquiring an additional 1,295,672 shares during the period. Millennium Management LLC raised its stake in shares of Twist Bioscience by 151.5% in the 3rd quarter. Millennium Management LLC now owns 1,793,850 shares of the company’s stock valued at $50,479,000 after acquiring an additional 1,080,722 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in shares of Twist Bioscience by 12.4% during the 4th quarter. ARK Investment Management LLC now owns 7,559,495 shares of the company’s stock valued at $239,787,000 after acquiring an additional 832,687 shares in the last quarter.

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.