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

Shares of Twist Bioscience Corporation (NASDAQ:TWST) gapped down prior to trading on Thursday . The stock had previously closed at $142.39, but opened at $136.84. Twist Bioscience shares last traded at $139.4790, with a volume of 553,553 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TWST shares. 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 research note on Wednesday, August 5th. Canaccord Genuity Group boosted their price target on Twist Bioscience from $90.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Evercore cut Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price objective on the stock. in a report on Monday, July 6th. Finally, Robert W. Baird lifted their price objective on Twist Bioscience from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Eight 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.30.

Twist Bioscience Price Performance

The company has a 50 day simple moving average of $98.06 and a 200 day simple moving average of $69.13. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -63.32 and a beta of 2.14. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 0.03.

Twist Bioscience (NASDAQ:TWST) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.56) earnings per share 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 firm had revenue of $118.38 million during the quarter, compared to analyst estimates of $114.55 million. During the same period in the prior year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, research analysts predict that Twist Bioscience Corporation will post -2.12 EPS for the current year.

Insider Buying and Selling at Twist Bioscience

In other Twist Bioscience news, SVP Paula Green sold 291 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 120,414 shares in the company, valued at $10,514,550.48. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dennis Cho sold 14,205 shares of the stock in a transaction 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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 151,529 shares of company stock valued at $17,708,772. 3.08% of the stock is currently owned by corporate insiders.

Institutional Trading of Twist Bioscience

Several large investors have recently added to or reduced their stakes in TWST. E. Ohman J or Asset Management AB acquired a new stake in shares of Twist Bioscience in the second quarter valued at about $853,000. UBS Group AG lifted its position in Twist Bioscience by 28.6% during the 4th quarter. UBS Group AG now owns 662,317 shares of the company’s stock worth $21,009,000 after acquiring an additional 147,389 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Twist Bioscience in the 1st quarter worth approximately $22,563,000. Bank of America Corp DE boosted its holdings in Twist Bioscience by 46.3% in the 1st quarter. Bank of America Corp DE now owns 584,261 shares of the company’s stock worth $27,764,000 after acquiring an additional 184,907 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in Twist Bioscience by 108.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 222,647 shares of the company’s stock valued at $7,302,000 after acquiring an additional 115,880 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.