JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Twist Bioscience (NASDAQ:TWST) Stock

Twist Bioscience (NASDAQ:TWST) had its target price lifted by JPMorgan Chase & Co. from $35.00 to $40.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

TWST has been the topic of several other research reports. Leerink Partners upped their target price on Twist Bioscience from $45.00 to $48.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Robert W. Baird raised their price objective on shares of Twist Bioscience from $48.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays lowered their price target on shares of Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Wolfe Research initiated coverage on Twist Bioscience in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price on the stock. Finally, Scotiabank boosted their price objective on shares of Twist Bioscience from $54.00 to $62.00 and gave the company a “sector outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Twist Bioscience currently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Twist Bioscience Trading Down 1.4 %

NASDAQ:TWST opened at $52.02 on Tuesday. The business’s 50-day moving average price is $48.63 and its two-hundred day moving average price is $46.21. Twist Bioscience has a 1-year low of $27.41 and a 1-year high of $60.90. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -14.45 and a beta of 1.87.

Twist Bioscience (NASDAQ:TWST) last released its quarterly earnings results on Monday, February 3rd. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.09. The company had revenue of $88.70 million during the quarter, compared to analysts’ expectations of $86.96 million. Twist Bioscience had a negative net margin of 66.69% and a negative return on equity of 32.27%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.75) earnings per share. Sell-side analysts predict that Twist Bioscience will post -2.27 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Patrick John Finn sold 2,422 shares of Twist Bioscience stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $50.17, for a total transaction of $121,511.74. Following the completion of the transaction, the chief operating officer now owns 272,044 shares of the company’s stock, valued at $13,648,447.48. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Laponis sold 5,886 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $43.26, for a total value of $254,628.36. Following the completion of the transaction, the chief financial officer now directly owns 110,096 shares in the company, valued at approximately $4,762,752.96. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,707 shares of company stock worth $2,343,623 in the last ninety days. Company insiders own 3.01% of the company’s stock.

Hedge Funds Weigh In On Twist Bioscience

Institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC raised its stake in Twist Bioscience by 4.4% during the 4th quarter. ARK Investment Management LLC now owns 5,595,865 shares of the company’s stock worth $260,040,000 after buying an additional 237,772 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of Twist Bioscience during the fourth quarter valued at approximately $855,000. Ieq Capital LLC raised its position in shares of Twist Bioscience by 21.1% during the fourth quarter. Ieq Capital LLC now owns 62,034 shares of the company’s stock worth $2,883,000 after purchasing an additional 10,800 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Twist Bioscience by 7.2% in the 4th quarter. D.A. Davidson & CO. now owns 21,028 shares of the company’s stock worth $977,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Twist Bioscience by 81.9% in the 4th quarter. Principal Financial Group Inc. now owns 374,551 shares of the company’s stock valued at $17,405,000 after purchasing an additional 168,687 shares during the period.

About Twist Bioscience

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.