Twist Bioscience (NASDAQ:TWST) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Twist Bioscience (NASDAQ:TWST) announced its quarterly earnings results on Monday. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07), FiscalAI reports. The company had revenue of $118.38 million for the quarter, compared to analyst estimates of $114.55 million. Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.

Twist Bioscience Price Performance

Shares of Twist Bioscience stock opened at $91.55 on Monday. 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 has a 1-year low of $23.30 and a 1-year high of $105.47. The business’s fifty day moving average price is $84.99 and its two-hundred day moving average price is $62.13. The company has a market capitalization of $5.70 billion, a P/E ratio of -68.83 and a beta of 2.11.

Analyst Ratings Changes

TWST has been the subject of a number of analyst reports. Barclays boosted their price objective on Twist Bioscience from $65.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Piper Sandler assumed 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. Leerink Partners set a $110.00 price target on shares of Twist Bioscience in a report on Thursday, July 16th. Guggenheim increased their price objective on shares of Twist Bioscience from $60.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, TD Cowen lifted their price objective on shares of Twist Bioscience from $68.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Twist Bioscience currently has an average rating of “Moderate Buy” and a consensus target price of $90.30.

Insider Buying and Selling

In other news, CFO Adam Laponis sold 2,399 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $94.33, for a total transaction of $226,297.67. Following the transaction, the chief financial officer directly owned 110,276 shares of the company’s stock, valued at approximately $10,402,335.08. This trade represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paula Green sold 291 shares of Twist Bioscience stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $87.32, for a total transaction of $25,410.12. Following the sale, the senior vice president owned 120,414 shares in the company, valued at approximately $10,514,550.48. This represents a 0.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 50,211 shares of company stock valued at $4,199,331. Company insiders own 3.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp boosted its holdings in shares of Twist Bioscience by 3.6% in the fourth quarter. Stifel Financial Corp now owns 7,769 shares of the company’s stock valued at $246,000 after acquiring an additional 271 shares in the last quarter. California State Teachers Retirement System lifted its position in Twist Bioscience by 0.8% in the second quarter. California State Teachers Retirement System now owns 54,187 shares of the company’s stock worth $1,994,000 after purchasing an additional 442 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Twist Bioscience by 3.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 20,485 shares of the company’s stock worth $553,000 after purchasing an additional 675 shares during the period. Smartleaf Asset Management LLC boosted its stake in Twist Bioscience by 83.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,955 shares of the company’s stock valued at $63,000 after purchasing an additional 887 shares in the last quarter. Finally, Quarry LP bought a new position in Twist Bioscience during the 3rd quarter valued at $28,000.

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.