Twist Bioscience (NASDAQ:TWST) Stock Price Up 10.2% – Here’s Why

Twist Bioscience Co. (NASDAQ:TWST) shares shot up 10.2% on Monday . The stock traded as high as $47.17 and last traded at $46.55. 399,057 shares traded hands during trading, a decline of 58% from the average session volume of 948,770 shares. The stock had previously closed at $42.23.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TWST. Leerink Partners raised their price objective on shares of Twist Bioscience from $45.00 to $48.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Evercore ISI lifted their price target on shares of Twist Bioscience from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Barclays reduced their price objective on Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Scotiabank upped their price target on Twist Bioscience from $50.00 to $54.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird lifted their price objective on Twist Bioscience from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Twist Bioscience currently has an average rating of “Moderate Buy” and an average price target of $51.78.

Twist Bioscience Trading Up 9.9 %

The firm has a market cap of $2.75 billion, a PE ratio of -12.89 and a beta of 1.78. The stock has a fifty day simple moving average of $43.78 and a two-hundred day simple moving average of $46.15.

Insider Buying and Selling

In related news, Director Robert Chess sold 3,600 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $47.26, for a total value of $170,136.00. Following the transaction, the director now owns 21,641 shares of the company’s stock, valued at $1,022,753.66. This represents a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paula Green sold 3,310 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $43.21, for a total value of $143,025.10. Following the transaction, the senior vice president now owns 84,585 shares in the company, valued at $3,654,917.85. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,118 shares of company stock valued at $4,391,151. Company insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

A number of institutional investors have recently made changes to their positions in TWST. State Board of Administration of Florida Retirement System boosted its position in Twist Bioscience by 14.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 18,649 shares of the company’s stock valued at $640,000 after buying an additional 2,410 shares during the period. American International Group Inc. boosted its holdings in Twist Bioscience by 0.8% during the 1st quarter. American International Group Inc. now owns 28,506 shares of the company’s stock valued at $978,000 after acquiring an additional 213 shares during the period. PEAK6 Investments LLC grew its position in Twist Bioscience by 20.7% during the 1st quarter. PEAK6 Investments LLC now owns 14,000 shares of the company’s stock worth $480,000 after acquiring an additional 2,400 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Twist Bioscience by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,127 shares of the company’s stock worth $1,103,000 after purchasing an additional 2,292 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its position in Twist Bioscience by 38.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 134,215 shares of the company’s stock valued at $4,605,000 after purchasing an additional 37,376 shares during the last quarter.

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.