Twist Bioscience (NASDAQ:TWST) Reaches New 1-Year High After Analyst Upgrade

Twist Bioscience Co. (NASDAQ:TWST) shares hit a new 52-week high on Monday after Evercore ISI raised their price target on the stock from $46.00 to $50.00. Evercore ISI currently has an outperform rating on the stock. Twist Bioscience traded as high as $44.42 and last traded at $44.12, with a volume of 335614 shares. The stock had previously closed at $41.21.

Other equities analysts have also recently issued reports about the stock. Barclays raised their target price on shares of Twist Bioscience from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group raised shares of Twist Bioscience from a “neutral” rating to a “buy” rating and raised their target price for the company from $25.00 to $45.00 in a research note on Wednesday, January 17th. Scotiabank raised their price target on Twist Bioscience from $30.00 to $43.00 and gave the company a “sector outperform” rating in a report on Monday, February 5th. Finally, Robert W. Baird raised their price target on Twist Bioscience from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $41.67.

Insider Activity at Twist Bioscience

In other Twist Bioscience news, Director Robert Chess sold 4,110 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $34.98, for a total value of $143,767.80. Following the transaction, the director now directly owns 64,169 shares of the company’s stock, valued at $2,244,631.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Patrick John Finn sold 2,174 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $30.12, for a total transaction of $65,480.88. Following the transaction, the chief operating officer now directly owns 176,206 shares of the company’s stock, valued at $5,307,324.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Chess sold 4,110 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $34.98, for a total value of $143,767.80. Following the transaction, the director now directly owns 64,169 shares in the company, valued at $2,244,631.62. The disclosure for this sale can be found here. Insiders have sold 13,211 shares of company stock worth $449,573 over the last ninety days. Insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

Several institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. lifted its stake in Twist Bioscience by 3.4% in the fourth quarter. D.A. Davidson & CO. now owns 16,774 shares of the company’s stock valued at $618,000 after purchasing an additional 554 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Twist Bioscience by 96.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,470 shares of the company’s stock worth $30,000 after acquiring an additional 721 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Twist Bioscience by 5.1% during the third quarter. Teacher Retirement System of Texas now owns 16,206 shares of the company’s stock valued at $328,000 after purchasing an additional 790 shares during the last quarter. EdgeRock Capital LLC bought a new position in Twist Bioscience during the fourth quarter worth about $30,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Twist Bioscience by 51.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,453 shares of the company’s stock valued at $70,000 after purchasing an additional 1,179 shares during the period.

Twist Bioscience Stock Performance

The company has a market capitalization of $2.57 billion, a PE ratio of -13.14 and a beta of 1.64. The stock’s 50 day moving average is $34.03 and its 200 day moving average is $31.14.

Twist Bioscience (NASDAQ:TWST) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.05. The company had revenue of $75.30 million during the quarter, compared to analysts’ expectations of $70.70 million. Twist Bioscience had a negative return on equity of 31.61% and a negative net margin of 69.24%. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.06) earnings per share. On average, equities research analysts forecast that Twist Bioscience Co. will post -3.17 EPS for the current fiscal year.

About Twist Bioscience

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.