Twist Bioscience (NASDAQ:TWST) Shares Down 2.4% – Here’s Why

by · The Markets Daily

Twist Bioscience Co. (NASDAQ:TWST – Get Free Report) dropped 2.4% on Wednesday . The company traded as low as $45.01 and last traded at $45.22. Approximately 110,130 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 966,651 shares. The stock had previously closed at $46.31.

Wall Street Analyst Weigh In

TWST has been the topic of several recent research reports. Robert W. Baird lifted their price target on Twist Bioscience from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Leerink Partners lifted their target price on Twist Bioscience from $45.00 to $48.00 and gave the company a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on Twist Bioscience from $28.00 to $35.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Barclays lowered their price objective on shares of Twist Bioscience from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, The Goldman Sachs Group increased their target price on shares of Twist Bioscience from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.22.

View Our Latest Report on TWST

Twist Bioscience Stock Performance

The company has a market capitalization of $2.73 billion, a P/E ratio of -13.76 and a beta of 1.77. The stock’s fifty day moving average price is $43.92 and its 200-day moving average price is $44.21.

Twist Bioscience (NASDAQ:TWST – Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The company reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.71). Twist Bioscience had a negative net margin of 74.63% and a negative return on equity of 32.17%. The business had revenue of $81.50 million during the quarter, compared to analyst estimates of $77.40 million. During the same period in the previous year, the business earned ($1.01) earnings per share. The business’s quarterly revenue was up 27.7% on a year-over-year basis. On average, research analysts predict that Twist Bioscience Co. will post -3.13 EPS for the current fiscal year.

Insider Activity

In related news, CEO Emily M. Leproust sold 5,139 shares of Twist Bioscience stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $39.93, for a total transaction of $205,200.27. Following the completion of the sale, the chief executive officer now owns 499,593 shares of the company’s stock, valued at approximately $19,948,748.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Emily M. Leproust sold 5,139 shares of Twist Bioscience stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $39.93, for a total transaction of $205,200.27. Following the completion of the sale, the chief executive officer now directly owns 499,593 shares of the company’s stock, valued at approximately $19,948,748.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dennis Cho sold 709 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.93, for a total value of $28,310.37. Following the completion of the transaction, the insider now directly owns 78,996 shares in the company, valued at approximately $3,154,310.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,246 shares of company stock valued at $1,829,356 over the last ninety days. 3.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. EdgeRock Capital LLC acquired a new stake in Twist Bioscience during the second quarter worth approximately $43,000. Blue Trust Inc. grew its holdings in shares of Twist Bioscience by 2,912.8% during the 2nd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock worth $58,000 after purchasing an additional 1,136 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Twist Bioscience in the second quarter worth $61,000. Nisa Investment Advisors LLC raised its stake in Twist Bioscience by 31.3% in the second quarter. Nisa Investment Advisors LLC now owns 2,288 shares of the company’s stock valued at $113,000 after purchasing an additional 546 shares in the last quarter. Finally, CWM LLC lifted its position in Twist Bioscience by 27.4% during the second quarter. CWM LLC now owns 2,437 shares of the company’s stock worth $120,000 after purchasing an additional 524 shares during the period.

Twist Bioscience Company Profile

(Get Free Report)

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.

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