Twist Bioscience (NASDAQ:TWST) Shares Gap Up to $31.16

Twist Bioscience Co. (NASDAQ:TWSTGet Rating)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $31.16, but opened at $32.99. Twist Bioscience shares last traded at $32.96, with a volume of 8,961 shares changing hands.

TWST has been the topic of several recent research reports. Barclays reduced their price objective on Twist Bioscience from $60.00 to $40.00 in a research report on Monday, May 9th. Robert W. Baird reduced their target price on Twist Bioscience from $70.00 to $43.00 in a research report on Friday, May 6th. Finally, The Goldman Sachs Group reduced their target price on Twist Bioscience from $105.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $52.00.

The company has a market capitalization of $1.88 billion, a PE ratio of -8.42 and a beta of 1.19. The business has a fifty day moving average price of $33.41 and a 200 day moving average price of $51.21.

Twist Bioscience (NASDAQ:TWSTGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.13. Twist Bioscience had a negative return on equity of 28.88% and a negative net margin of 114.96%. The firm had revenue of $48.13 million during the quarter, compared to analyst estimates of $45.25 million. During the same quarter last year, the firm earned ($0.78) EPS. Twist Bioscience’s quarterly revenue was up 54.2% on a year-over-year basis. Equities research analysts anticipate that Twist Bioscience Co. will post -4.85 earnings per share for the current year.

In other Twist Bioscience news, insider William Banyai sold 1,275 shares of Twist Bioscience stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $37.04, for a total transaction of $47,226.00. Following the sale, the insider now owns 259,926 shares of the company’s stock, valued at approximately $9,627,659.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James M. Thorburn sold 6,620 shares of Twist Bioscience stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $42.85, for a total value of $283,667.00. Following the transaction, the chief financial officer now owns 46,688 shares in the company, valued at $2,000,580.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,883 shares of company stock worth $922,990. 3.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of TWST. Advanced Research Investment Solutions LLC acquired a new position in shares of Twist Bioscience in the 1st quarter worth $35,000. Concord Wealth Partners grew its holdings in shares of Twist Bioscience by 227.9% in the 4th quarter. Concord Wealth Partners now owns 459 shares of the company’s stock worth $36,000 after acquiring an additional 319 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Twist Bioscience in the 4th quarter worth $39,000. KRS Capital Management LLC acquired a new position in shares of Twist Bioscience in the 4th quarter worth $46,000. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Twist Bioscience by 155.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,066 shares of the company’s stock worth $52,000 after acquiring an additional 649 shares during the last quarter.

About Twist Bioscience (NASDAQ:TWST)

Twist Bioscience Corporation, a synthetic biology company, manufactures and sells synthetic DNA-based products. The company's DNA synthesis platform enables the manufacturing of synthetic DNA by writing DNA on a silicon chip. It offers synthetic DNA-based products, including synthetic genes, tools for sample preparation, antibody libraries for drug discovery and development, and DNA as a digital data storage medium.

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