Dennis Cho Sells 402 Shares of Twist Bioscience (NASDAQ:TWST) Stock

Twist Bioscience Corporation (NASDAQ:TWST) insider Dennis Cho sold 402 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $69.84, for a total value of $28,075.68. Following the transaction, the insider owned 119,692 shares of the company’s stock, valued at approximately $8,359,289.28. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Twist Bioscience Trading Up 9.3%

TWST opened at $74.05 on Friday. Twist Bioscience Corporation has a 52 week low of $23.30 and a 52 week high of $80.50. The business has a fifty day simple moving average of $59.14 and a 200-day simple moving average of $47.25. The firm has a market cap of $4.61 billion, a P/E ratio of -55.68 and a beta of 2.23. The company has a quick ratio of 2.42, a current ratio of 2.70 and a debt-to-equity ratio of 0.03.

Twist Bioscience (NASDAQ:TWST) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.22). Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.The firm had revenue of $110.72 million for the quarter, compared to analysts’ expectations of $107.64 million. During the same quarter in the prior year, the business earned ($0.66) earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities analysts expect that Twist Bioscience Corporation will post -1.99 earnings per share for the current year.

Institutional Trading of Twist Bioscience

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp raised its stake in 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 buying an additional 271 shares in the last quarter. D.A. Davidson & CO. raised its stake in Twist Bioscience by 1.2% in the fourth quarter. D.A. Davidson & CO. now owns 25,237 shares of the company’s stock valued at $801,000 after buying an additional 305 shares in the last quarter. CWM LLC raised its stake in Twist Bioscience by 9.4% in the fourth quarter. CWM LLC now owns 4,738 shares of the company’s stock valued at $150,000 after buying an additional 407 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Twist Bioscience by 70.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,068 shares of the company’s stock valued at $29,000 after buying an additional 442 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake 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 valued at $1,994,000 after buying an additional 442 shares in the last quarter.

Wall Street Analysts Forecast Growth

TWST has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Twist Bioscience in a research note on Friday, March 27th. Piper Sandler initiated coverage on Twist Bioscience in a research note on Thursday. They issued an “overweight” rating and a $85.00 price objective on the stock. Barclays increased their price objective on Twist Bioscience from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Leerink Partners set a $80.00 price objective on Twist Bioscience in a research note on Friday, May 22nd. Finally, Guggenheim increased their price objective on Twist Bioscience from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.38.

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.