Twist Bioscience (NASDAQ:TWST) Sets New 12-Month High – Here’s What Happened

Twist Bioscience Corporation (NASDAQ:TWST) hit a new 52-week high during trading on Wednesday . The stock traded as high as $140.95 and last traded at $135.2480, with a volume of 613748 shares. The stock had previously closed at $116.10.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore cut Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price target on the stock. in a research note on Monday, July 6th. Leerink Partners set a $110.00 price objective on shares of Twist Bioscience in a report on Thursday, July 16th. Robert W. Baird increased their price objective on shares of Twist Bioscience from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Finally, Barclays lifted their target price on shares of Twist Bioscience from $65.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.30.

Twist Bioscience Trading Down 4.3%

The business’s 50 day simple moving average is $99.30 and its two-hundred day simple moving average is $69.80. The stock has a market cap of $8.55 billion, a P/E ratio of -61.41 and a beta of 2.14. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 0.03.

Twist Bioscience (NASDAQ:TWST) last issued its earnings results on Monday, August 3rd. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.05). The firm had revenue of $118.38 million during the quarter, compared to analyst estimates of $114.55 million. Twist Bioscience had a negative return on equity of 28.64% and a negative net margin of 31.66%.Twist Bioscience’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS. As a group, analysts expect that Twist Bioscience Corporation will post -2.12 EPS for the current year.

Insider Buying and Selling at Twist Bioscience

In related news, CFO Adam Laponis sold 2,399 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $94.33, for a total value of $226,297.67. Following the sale, the chief financial officer owned 110,276 shares of the company’s stock, valued at $10,402,335.08. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dennis Cho sold 14,205 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total value of $1,274,898.75. Following the completion of the sale, the insider owned 105,141 shares of the company’s stock, valued at $9,436,404.75. The trade was a 11.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 151,529 shares of company stock valued at $17,708,772 in the last quarter. 3.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Twist Bioscience

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Twist Bioscience in the second quarter worth approximately $600,191,000. William Blair Investment Management LLC bought a new position in Twist Bioscience during the 2nd quarter worth approximately $223,722,000. EdgePoint Investment Group Inc. raised its holdings in Twist Bioscience by 31.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 5,377,991 shares of the company’s stock worth $170,590,000 after purchasing an additional 1,295,672 shares during the last quarter. Millennium Management LLC lifted its position in shares of Twist Bioscience by 151.5% in the 3rd quarter. Millennium Management LLC now owns 1,793,850 shares of the company’s stock worth $50,479,000 after purchasing an additional 1,080,722 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Twist Bioscience in the 2nd quarter worth approximately $94,922,000.

About Twist Bioscience

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.