Twist Bioscience (NASDAQ:TWST) Shares Down 2.4% – What’s Next?

Twist Bioscience Co. (NASDAQ:TWST) dropped 2.4% during mid-day trading on Wednesday . The stock traded as low as $45.01 and last traded at $45.22. Approximately 110,130 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 966,651 shares. The stock had previously closed at $46.31.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TWST shares. Robert W. Baird upped their price objective on shares of Twist Bioscience from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Twist Bioscience from $28.00 to $35.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their price objective on Twist Bioscience from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Leerink Partners raised their target price on Twist Bioscience from $45.00 to $48.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Barclays lowered their target price on shares of Twist Bioscience from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.22.

Twist Bioscience Stock Performance

The firm’s 50-day simple moving average is $43.92 and its two-hundred day simple moving average is $44.21. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -13.76 and a beta of 1.77.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.71). The firm had revenue of $81.50 million for the quarter, compared to analyst estimates of $77.40 million. Twist Bioscience had a negative return on equity of 32.17% and a negative net margin of 74.63%. The firm’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.01) EPS. Equities research analysts expect that Twist Bioscience Co. will post -3.13 earnings per share for the current fiscal year.

Insider Transactions at Twist Bioscience

In related news, CFO Adam Laponis sold 856 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $41.81, for a total value of $35,789.36. Following the transaction, the chief financial officer now directly owns 73,397 shares in the company, valued at $3,068,728.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Adam Laponis sold 856 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $41.81, for a total value of $35,789.36. Following the completion of the sale, the chief financial officer now owns 73,397 shares in the company, valued at approximately $3,068,728.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Patrick John Finn sold 2,207 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $56.62, for a total value of $124,960.34. Following the transaction, the chief operating officer now owns 171,212 shares in the company, valued at approximately $9,694,023.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,246 shares of company stock worth $1,829,356 in the last quarter. 3.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Twist Bioscience

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of Twist Bioscience by 151.2% in the 1st quarter. Principal Financial Group Inc. now owns 39,624 shares of the company’s stock valued at $1,360,000 after buying an additional 23,850 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Twist Bioscience by 12.1% in the first quarter. Baillie Gifford & Co. now owns 1,227,528 shares of the company’s stock worth $42,116,000 after acquiring an additional 132,770 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Twist Bioscience by 30.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 156,288 shares of the company’s stock worth $5,362,000 after purchasing an additional 36,744 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Twist Bioscience by 34.8% during the 1st quarter. BNP Paribas Financial Markets now owns 171,823 shares of the company’s stock valued at $5,895,000 after purchasing an additional 44,349 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of Twist Bioscience by 523.1% in the 1st quarter. Jennison Associates LLC now owns 150,022 shares of the company’s stock valued at $5,147,000 after purchasing an additional 125,946 shares during the period.

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.