Insider Selling: Twist Bioscience (NASDAQ:TWST) Insider Sells 412 Shares

Twist Bioscience Corporation (NASDAQ:TWST) insider Dennis Cho sold 412 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $122.62, for a total value of $50,519.44. Following the completion of the sale, the insider directly owned 73,651 shares of the company’s stock, valued at approximately $9,031,085.62. The trade was a 0.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dennis Cho also recently made the following trade(s):

• On Wednesday, June 24th, Dennis Cho sold 14,205 shares of Twist Bioscience stock. The shares were sold at an average price of $89.75, for a total value of $1,274,898.75.
• On Monday, June 22nd, Dennis Cho sold 346 shares of Twist Bioscience stock. The stock was sold at an average price of $87.32, for a total transaction of $30,212.72.

Twist Bioscience Trading Up 1.1%

Shares of NASDAQ:TWST traded up $1.33 during trading on Thursday, reaching $126.85. The stock had a trading volume of 1,284,904 shares, compared to its average volume of 1,530,816. Twist Bioscience Corporation has a 52 week low of $23.30 and a 52 week high of $155.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.38 and a current ratio of 2.67. The firm’s fifty day moving average is $112.40 and its 200 day moving average is $78.44. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of -57.14 and a beta of 2.22.

Twist Bioscience (NASDAQ:TWST) last released its earnings results on Monday, August 3rd. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 31.66% and a negative return on equity of 28.64%. Twist Bioscience’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, equities analysts forecast that Twist Bioscience Corporation will post -2.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Twist Bioscience

A number of hedge funds have recently added to or reduced their stakes in the company. E. Ohman J or Asset Management AB bought a new stake in Twist Bioscience during the 2nd quarter valued at $853,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Twist Bioscience during the first quarter valued at about $22,563,000. Bank of America Corp DE increased its position in shares of Twist Bioscience by 46.3% during the first quarter. Bank of America Corp DE now owns 584,261 shares of the company’s stock worth $27,764,000 after acquiring an additional 184,907 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Twist Bioscience during the second quarter worth about $9,265,000. Finally, First Trust Advisors LP acquired a new stake in shares of Twist Bioscience in the 1st quarter worth about $4,973,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TWST. Barclays boosted their price target on Twist Bioscience from $65.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Evercore lowered shares of Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price objective for the company. in a research note on Monday, July 6th. Guggenheim reiterated a “buy” rating on shares of Twist Bioscience in a research report on Monday, August 24th. BWS Financial assumed coverage on shares of Twist Bioscience in a research note on Wednesday. They set a “sell” rating and a $45.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Twist Bioscience in a report on Wednesday, June 24th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Twist Bioscience currently has an average rating of “Moderate Buy” and a consensus price target of $98.45.

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.