Twist Bioscience (NASDAQ:TWST) Hits New 1-Year High Following Analyst Upgrade

Twist Bioscience Co. (NASDAQ:TWST)’s stock price reached 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 changing hands. The stock had previously closed at $41.21.

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

Insider Buying and Selling at Twist Bioscience

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TWST. EdgeRock Capital LLC purchased a new stake in Twist Bioscience in the 4th quarter worth about $30,000. Federated Hermes Inc. purchased a new position in shares of Twist Bioscience during the third quarter worth approximately $29,000. China Universal Asset Management Co. Ltd. increased its position in shares of Twist Bioscience by 96.3% during the third 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 period. Allspring Global Investments Holdings LLC increased its position in shares of Twist Bioscience by 51.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,453 shares of the company’s stock worth $70,000 after acquiring an additional 1,179 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Twist Bioscience by 3,519.8% during the fourth quarter. International Assets Investment Management LLC now owns 4,018 shares of the company’s stock worth $148,000 after acquiring an additional 3,907 shares during the period.

Twist Bioscience Price Performance

The firm 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 price is $34.03 and its 200 day moving average price is $31.14.

Twist Bioscience (NASDAQ:TWST) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.05. The company had revenue of $75.30 million for the quarter, compared to analyst estimates of $70.70 million. Twist Bioscience had a negative net margin of 69.24% and a negative return on equity of 31.61%. Twist Bioscience’s revenue was up 25.1% compared to the same quarter last year. During the same period last year, the company posted ($1.06) earnings per share. Equities research analysts forecast that Twist Bioscience Co. will post -3.17 earnings per share 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.