Twist Bioscience (NASDAQ:TWST) Shares Down 5.2%

Twist Bioscience Co. (NASDAQ:TWST)’s stock price fell 5.2% on Tuesday . The stock traded as low as $46.28 and last traded at $46.41. 304,156 shares changed hands during trading, a decline of 71% from the average session volume of 1,045,244 shares. The stock had previously closed at $48.93.

Analysts Set New Price Targets

Several research firms have weighed in on TWST. Robert W. Baird boosted their target price on shares of Twist Bioscience from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Guggenheim began coverage on shares of Twist Bioscience in a report on Tuesday, June 4th. They issued a “buy” rating and a $53.00 price objective on the stock. TD Cowen upped their price objective on shares of Twist Bioscience from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Scotiabank upped their price objective on shares of Twist Bioscience from $43.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, May 6th. Finally, Barclays upped their price objective on shares of Twist Bioscience from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Friday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $48.50.

Twist Bioscience Price Performance

The stock’s fifty day moving average is $44.23 and its 200-day moving average is $38.49. The stock has a market capitalization of $2.71 billion, a PE ratio of -13.82 and a beta of 1.80.

Twist Bioscience (NASDAQ:TWST) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.05. Twist Bioscience had a negative net margin of 69.24% and a negative return on equity of 31.61%. The firm had revenue of $75.30 million for the quarter, compared to the consensus estimate of $70.70 million. During the same period in the prior year, the firm posted ($1.06) earnings per share. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, analysts forecast that Twist Bioscience Co. will post -3.08 EPS for the current year.

Insiders Place Their Bets

In other Twist Bioscience news, SVP Paula Green sold 910 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $37.13, for a total transaction of $33,788.30. Following the completion of the transaction, the senior vice president now directly owns 91,511 shares in the company, valued at $3,397,803.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Twist Bioscience news, SVP Paula Green sold 910 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $37.13, for a total transaction of $33,788.30. Following the completion of the transaction, the senior vice president now directly owns 91,511 shares in the company, valued at $3,397,803.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Banyai sold 798 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $37.13, for a total transaction of $29,629.74. Following the transaction, the insider now owns 345,188 shares of the company’s stock, valued at $12,816,830.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,246 shares of company stock worth $706,593. Company insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

A number of hedge funds have recently modified their holdings of TWST. Artisan Partners Limited Partnership raised its position in shares of Twist Bioscience by 111.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,723,305 shares of the company’s stock valued at $137,241,000 after buying an additional 1,961,621 shares during the last quarter. Invesco Ltd. raised its position in shares of Twist Bioscience by 1,496.2% in the third quarter. Invesco Ltd. now owns 831,006 shares of the company’s stock valued at $16,836,000 after buying an additional 778,944 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Twist Bioscience by 6.3% in the fourth quarter. ARK Investment Management LLC now owns 7,213,257 shares of the company’s stock valued at $265,881,000 after buying an additional 427,274 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Twist Bioscience in the fourth quarter valued at about $11,956,000. Finally, Norges Bank acquired a new stake in shares of Twist Bioscience in the fourth quarter valued at about $10,766,000.

Twist Bioscience Company Profile

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.