Twist Bioscience (NASDAQ:TWST) CFO Adam Laponis Sells 2,399 Shares

Twist Bioscience Corporation (NASDAQ:TWST) 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 sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Adam Laponis also recently made the following trade(s):

• On Friday, April 17th, Adam Laponis sold 4,000 shares of Twist Bioscience stock. The shares were sold at an average price of $60.00, for a total transaction of $240,000.00.
• On Tuesday, April 14th, Adam Laponis sold 3,000 shares of Twist Bioscience stock. The stock was sold at an average price of $55.00, for a total transaction of $165,000.00.

Twist Bioscience Stock Down 0.3%

NASDAQ:TWST traded down $0.29 during mid-day trading on Monday, hitting $90.35. 850,077 shares of the company’s stock were exchanged, compared to its average volume of 1,518,503. The company has a market cap of $5.63 billion, a PE ratio of -67.93 and a beta of 2.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 2.42. Twist Bioscience Corporation has a one year low of $23.30 and a one year high of $105.47. The business has a fifty day moving average price of $74.33 and a 200 day moving average price of $56.12.

Twist Bioscience (NASDAQ:TWST) last announced its earnings results on Monday, May 4th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.22). Twist Bioscience had a negative net margin of 19.85% and a negative return on equity of 26.73%. The business had revenue of $110.72 million for the quarter, compared to the consensus estimate of $107.64 million. During the same period in the prior year, the business posted ($0.66) EPS. Twist Bioscience’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities analysts predict that Twist Bioscience Corporation will post -2.02 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Twist Bioscience from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Guggenheim boosted their target price on Twist Bioscience from $60.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Leerink Partners set a $80.00 target price on Twist Bioscience in a report on Friday, May 22nd. Piper Sandler began coverage on Twist Bioscience in a research note on Thursday, June 11th. They issued an “overweight” rating and a $85.00 target price on the stock. Finally, Canaccord Genuity Group initiated coverage on Twist Bioscience in a report on Monday, June 15th. They set a “buy” rating and a $90.00 price target for the company. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Twist Bioscience presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC purchased a new stake in shares of Twist Bioscience during the first quarter valued at approximately $31,000. Strs Ohio bought a new stake in shares of Twist Bioscience during the first quarter valued at approximately $33,000. GAMMA Investing LLC raised its holdings in Twist Bioscience by 24.4% in the 2nd quarter. GAMMA Investing LLC now owns 943 shares of the company’s stock worth $97,000 after acquiring an additional 185 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Twist Bioscience by 89.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 958 shares of the company’s stock worth $46,000 after acquiring an additional 453 shares during the last quarter. Finally, Quarry LP bought a new position in Twist Bioscience in the 3rd quarter valued at approximately $28,000.

About Twist Bioscience

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.