Twist Bioscience (NASDAQ:TWST) Stock Price Down 4.5% – Here’s Why

Shares of Twist Bioscience Co. (NASDAQ:TWST) were down 4.5% during trading on Thursday . The stock traded as low as $49.14 and last traded at $49.98. Approximately 52,931 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 646,642 shares. The stock had previously closed at $52.34.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TWST shares. Leerink Partners increased their price objective on Twist Bioscience from $45.00 to $48.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. TD Cowen reaffirmed a “buy” rating and set a $58.00 price objective on shares of Twist Bioscience in a report on Tuesday, November 26th. Barclays lowered their price target on shares of Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Robert W. Baird lifted their price objective on shares of Twist Bioscience from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI raised their price target on Twist Bioscience from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.90.

Twist Bioscience Trading Up 2.9 %

The company has a market cap of $3.20 billion, a P/E ratio of -14.96 and a beta of 1.85. The company’s fifty day moving average is $46.78 and its 200 day moving average is $46.35.

Insider Activity

In related news, Director Robert Chess sold 3,600 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $47.26, for a total transaction of $170,136.00. Following the transaction, the director now owns 21,641 shares in the company, valued at $1,022,753.66. The trade was a 14.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert F. Werner sold 1,448 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $44.60, for a total value of $64,580.80. Following the completion of the sale, the chief accounting officer now owns 45,620 shares of the company’s stock, valued at approximately $2,034,652. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,379 shares of company stock valued at $4,026,346. 3.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Twist Bioscience

A number of hedge funds and other institutional investors have recently made changes to their positions in TWST. Wilmington Savings Fund Society FSB purchased a new stake in Twist Bioscience in the third quarter worth $34,000. Signaturefd LLC increased its stake in shares of Twist Bioscience by 63.0% in the 3rd quarter. Signaturefd LLC now owns 792 shares of the company’s stock worth $36,000 after acquiring an additional 306 shares in the last quarter. Beaird Harris Wealth Management LLC purchased a new position in Twist Bioscience during the 3rd quarter valued at about $95,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Twist Bioscience by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,119 shares of the company’s stock worth $98,000 after acquiring an additional 381 shares in the last quarter. Finally, KBC Group NV grew its holdings in Twist Bioscience by 71.4% in the fourth quarter. KBC Group NV now owns 2,942 shares of the company’s stock worth $137,000 after purchasing an additional 1,226 shares during the period.

Twist Bioscience Company Profile

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.