Canaccord Genuity Group Boosts Twist Bioscience (NASDAQ:TWST) Price Target to $120.00

Twist Bioscience (NASDAQ:TWST) had its price target boosted by stock analysts at Canaccord Genuity Group from $90.00 to $120.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 32.82% from the company’s current price.

Several other brokerages also recently issued reports on TWST. Weiss Ratings reissued a “sell (d-)” rating on shares of Twist Bioscience in a report on Wednesday, June 24th. Guggenheim upped their price objective on Twist Bioscience from $60.00 to $107.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Barclays increased their target price on Twist Bioscience from $65.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Robert W. Baird boosted their price target on shares of Twist Bioscience from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, UBS Group set a $89.00 price target on shares of Twist Bioscience in a report on Monday, June 15th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Twist Bioscience currently has a consensus rating of “Moderate Buy” and an average price target of $87.30.

Twist Bioscience Trading Down 0.3%

NASDAQ TWST opened at $90.35 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.42 and a current ratio of 2.70. Twist Bioscience has a one year low of $23.30 and a one year high of $105.47. The company has a 50-day simple moving average of $74.97 and a 200-day simple moving average of $56.51. The firm has a market capitalization of $5.63 billion, a PE ratio of -67.93 and a beta of 2.11.

Twist Bioscience (NASDAQ:TWST) last issued its earnings results on Monday, May 4th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $110.72 million during the quarter, compared to the consensus estimate of $107.64 million. During the same period in the prior year, the business earned ($0.66) EPS. The business’s revenue was up 19.3% on a year-over-year basis. On average, equities analysts forecast that Twist Bioscience will post -2.02 earnings per share for the current year.

Insider Activity at Twist Bioscience

In related news, CEO Emily M. Leproust sold 18,880 shares of Twist Bioscience stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $95.00, for a total transaction of $1,793,600.00. Following the sale, the chief executive officer directly owned 824,039 shares in the company, valued at $78,283,705. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dennis Cho sold 14,205 shares of Twist Bioscience stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total transaction of $1,274,898.75. Following the sale, the insider owned 105,141 shares in the company, valued at approximately $9,436,404.75. This represents a 11.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 64,382 shares of company stock worth $5,101,215 in the last ninety days. 3.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Twist Bioscience

Several large investors have recently bought and sold shares of the stock. William Blair Investment Management LLC raised its position in shares of Twist Bioscience by 43.7% during the 4th quarter. William Blair Investment Management LLC now owns 5,954,429 shares of the company’s stock worth $188,874,000 after buying an additional 1,812,146 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Twist Bioscience by 31.7% in the fourth quarter. EdgePoint Investment Group Inc. now owns 5,377,991 shares of the company’s stock valued at $170,590,000 after acquiring an additional 1,295,672 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Twist Bioscience by 151.5% in the third quarter. Millennium Management LLC now owns 1,793,850 shares of the company’s stock valued at $50,479,000 after acquiring an additional 1,080,722 shares in the last quarter. ARK Investment Management LLC lifted its stake in Twist Bioscience by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 7,559,495 shares of the company’s stock valued at $239,787,000 after purchasing an additional 832,687 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in Twist Bioscience by 934.0% during the second quarter. Balyasny Asset Management L.P. now owns 628,241 shares of the company’s stock worth $23,113,000 after buying an additional 567,481 shares in the last quarter.

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.