Twist Bioscience Corporation (NASDAQ:TWST – Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $90.06 and last traded at $88.8510, with a volume of 5311 shares changing hands. The stock had previously closed at $87.56.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Robert W. Baird increased their price target on shares of Twist Bioscience from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Canaccord Genuity Group began coverage on shares of Twist Bioscience in a research note on Monday, June 15th. They issued a “buy” rating and a $90.00 price target for the company. TD Cowen upped their price objective on Twist Bioscience from $68.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Leerink Partners set a $80.00 price objective on Twist Bioscience in a research note on Friday, May 22nd. Finally, Piper Sandler assumed coverage on Twist Bioscience in a research note on Thursday, June 11th. They issued an “overweight” rating and a $85.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Twist Bioscience currently has an average rating of “Moderate Buy” and a consensus target price of $71.60.
Twist Bioscience Trading Down 3.0%
Twist Bioscience (NASDAQ:TWST – Get Free Report) last issued its earnings results on Monday, May 4th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.22). The business had revenue of $110.72 million for the quarter, compared to analyst estimates of $107.64 million. Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.Twist Bioscience’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted ($0.66) EPS. As a group, research analysts forecast that Twist Bioscience Corporation will post -2.02 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Dennis Cho sold 402 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $69.84, for a total value of $28,075.68. Following the completion of the sale, the insider directly owned 119,692 shares of the company’s stock, valued at approximately $8,359,289.28. The trade was a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jan Johannessen sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.12, for a total value of $673,440.00. Following the transaction, the director owned 17,754 shares in the company, valued at $996,354.48. This represents a 40.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 33,170 shares of company stock worth $1,948,964. Corporate insiders own 3.08% of the company’s stock.
Hedge Funds Weigh In On Twist Bioscience
Institutional investors have recently modified their holdings of the business. Perceptive Advisors LLC purchased a new stake in Twist Bioscience in the 1st quarter valued at $7,128,000. Western Wealth Management LLC acquired a new position in Twist Bioscience in the first quarter valued at $31,000. Flax Pond Capital LLC purchased a new stake in shares of Twist Bioscience in the first quarter valued at about $76,000. Bank of America Corp DE raised its holdings in shares of Twist Bioscience by 46.3% in the first quarter. Bank of America Corp DE now owns 584,261 shares of the company’s stock valued at $27,764,000 after buying an additional 184,907 shares during the last quarter. Finally, Oddo BHF Asset Management Sas boosted its stake in shares of Twist Bioscience by 7.6% during the first quarter. Oddo BHF Asset Management Sas now owns 145,960 shares of the company’s stock worth $6,936,000 after buying an additional 10,310 shares during the period.
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.
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