Twist Bioscience (NASDAQ:TWST) Given New $60.00 Price Target at Barclays

Twist Bioscience (NASDAQ:TWST – Get Rating) had its target price cut by analysts at Barclays from $75.00 to $60.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Barclays‘s price target suggests a potential upside of 43.95% from the stock’s current price.

TWST has been the subject of several other reports. Zacks Investment Research raised shares of Twist Bioscience from a “sell” rating to a “hold” rating in a research note on Thursday, March 10th. Robert W. Baird decreased their price target on shares of Twist Bioscience from $113.00 to $70.00 in a research note on Monday, February 7th. The Goldman Sachs Group decreased their price target on shares of Twist Bioscience from $105.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, April 13th. Finally, SVB Leerink decreased their price target on shares of Twist Bioscience from $110.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, February 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $63.75.

Shares of NASDAQ:TWST opened at $41.68 on Wednesday. Twist Bioscience has a 52 week low of $38.08 and a 52 week high of $144.14. The firm’s fifty day moving average is $49.62 and its 200-day moving average is $75.45. The firm has a market cap of $2.12 billion, a PE ratio of -12.44 and a beta of 0.89.

Twist Bioscience (NASDAQ:TWST – Get Rating) last announced its earnings results on Friday, February 4th. The company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.17. Twist Bioscience had a negative net margin of 112.70% and a negative return on equity of 27.10%. The business had revenue of $42.00 million during the quarter, compared to the consensus estimate of $38.22 million. During the same quarter last year, the firm earned ($0.72) earnings per share. Twist Bioscience’s quarterly revenue was up 48.9% on a year-over-year basis. Research analysts anticipate that Twist Bioscience will post -4.97 earnings per share for the current fiscal year.

In related news, CFO James M. Thorburn sold 6,620 shares of the business’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $42.85, for a total transaction of $283,667.00. Following the transaction, the chief financial officer now directly owns 46,688 shares in the company, valued at $2,000,580.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick John Finn sold 659 shares of the business’s stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $60.52, for a total transaction of $39,882.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,364 shares of company stock valued at $1,151,379. 3.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC lifted its stake in shares of Twist Bioscience by 39.7% during the 1st quarter. ARK Investment Management LLC now owns 5,264,255 shares of the company’s stock valued at $259,949,000 after buying an additional 1,497,052 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in shares of Twist Bioscience during the 4th quarter valued at approximately $54,103,000. William Blair Investment Management LLC lifted its stake in shares of Twist Bioscience by 69.5% during the 3rd quarter. William Blair Investment Management LLC now owns 1,197,584 shares of the company’s stock valued at $128,106,000 after buying an additional 491,168 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Twist Bioscience during the 4th quarter valued at approximately $33,584,000. Finally, BlackRock Inc. lifted its stake in shares of Twist Bioscience by 7.9% during the 4th quarter. BlackRock Inc. now owns 4,333,902 shares of the company’s stock valued at $335,402,000 after buying an additional 316,078 shares in the last quarter. Hedge funds and other institutional investors own 98.81% of the company’s stock.

About Twist Bioscience (Get Rating)

Twist Bioscience Corp. develops proprietary semiconductor-based synthetic DNA manufacturing process. It produces synthetic biology tools such as genes, oligo pools, variant libraries, DNA data storage and NGS. The firm also produces agriculture production as well as new applications such as in vivo diagnostics, biodetection and data storage.

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