Key Points
- CEO Emily Leproust sold 356,546 Twist Bioscience shares at an average price of $157.99, generating approximately $56.3 million. The Rule 10b5-1 sale reduced her direct ownership by 36.49% to 620,589 shares.
- Twist Bioscience reported quarterly revenue of $118.38 million, up 23.2% year over year and above estimates, but its adjusted loss of $0.56 per share missed consensus by $0.05.
- Analyst sentiment remains a Moderate Buy, with eight Buy, two Hold and two Sell ratings; however, the $103 consensus price target was below the stock’s reported $165.83 opening price.
Twist Bioscience Corporation (NASDAQ:TWST - Get Free Report) CEO Emily Leproust sold 356,546 shares of the firm's stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $157.99, for a total value of $56,330,702.54. Following the sale, the chief executive officer directly owned 620,589 shares in the company, valued at $98,046,856.11. The trade was a 36.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Twist Bioscience Stock Down 0.7%
NASDAQ:TWST opened at $165.83 on Tuesday. Twist Bioscience Corporation has a 1 year low of $23.30 and a 1 year high of $170.23. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of -74.70 and a beta of 2.22. The stock has a 50-day moving average price of $120.50 and a two-hundred day moving average price of $83.90.
Twist Bioscience (NASDAQ:TWST - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.56) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.05). Twist Bioscience had a negative return on equity of 28.64% and a negative net margin of 31.66%.The business had revenue of $118.38 million for the quarter, compared to analyst estimates of $114.55 million. During the same period in the prior year, the business earned $0.33 EPS. The company's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts expect that Twist Bioscience Corporation will post -2.12 earnings per share for the current year.
Hedge Funds Weigh In On Twist Bioscience
Several hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP acquired a new stake in shares of Twist Bioscience in the second quarter valued at approximately $3,333,000. Integrated Wealth Concepts LLC acquired a new position in Twist Bioscience during the second quarter worth $99,000. Allworth Financial LP grew its position in Twist Bioscience by 54.9% in the second quarter. Allworth Financial LP now owns 601 shares of the company's stock valued at $62,000 after purchasing an additional 213 shares in the last quarter. Nykredit A S bought a new position in Twist Bioscience in the second quarter valued at $283,000. Finally, Allianz Asset Management GmbH acquired a new stake in Twist Bioscience in the 2nd quarter valued at $1,327,000.
Analysts Set New Price Targets
TWST has been the topic of several research analyst reports. Leerink Partners raised their target price on shares of Twist Bioscience from $120.00 to $160.00 and gave the stock an "outperform" rating in a report on Thursday. Canaccord Genuity Group upped their price target on shares of Twist Bioscience from $90.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. BWS Financial reissued a "sell" rating and set a $45.00 price objective on shares of Twist Bioscience in a research report on Friday. TD Cowen restated a "buy" rating on shares of Twist Bioscience in a report on Monday, August 3rd. Finally, Robert W. Baird boosted their price objective on shares of Twist Bioscience from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.00.
Check Out Our Latest Stock Analysis on TWST
Twist Bioscience Company Profile
(
Get Free Report)
Twist Bioscience Corporation is a biotechnology company that develops and manufactures synthetic DNA using a proprietary silicon-based platform. The company serves researchers and organizations in biotechnology, pharmaceutical development, agriculture, industrial chemicals and academic research.
Its products include synthetic genes, gene fragments, oligonucleotides and DNA libraries used in research, drug discovery, diagnostics development and other applications. Twist also provides next-generation sequencing tools and products, including target-enrichment and sample-preparation solutions, as well as synthetic biology services that support the design and testing of biological systems.
Twist was founded in 2013 and is headquartered in South San Francisco, California.
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