Twist Bioscience (NASDAQ:TWST) Price Target Raised to $120.00

Twist Bioscience (NASDAQ:TWST) had its price target lifted by Canaccord Genuity Group from $90.00 to $120.00 in a report published on Tuesday, Marketbeat.com reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research analysts also recently commented on the company. Piper Sandler initiated coverage on Twist Bioscience in a research note on Thursday, June 11th. They set an “overweight” rating and a $85.00 target price for the company. UBS Group set a $89.00 price target on shares of Twist Bioscience in a research note on Monday, June 15th. Robert W. Baird lifted their price target on shares of Twist Bioscience from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Twist Bioscience in a research report on Wednesday, June 24th. Finally, Leerink Partners set a $80.00 target price on shares of Twist Bioscience in a research report on Friday, May 22nd. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.30.

Twist Bioscience Trading Down 1.5%

TWST opened at $91.23 on Tuesday. Twist Bioscience has a twelve month low of $23.30 and a twelve month high of $105.47. The company has a 50-day simple moving average of $77.00 and a 200 day simple moving average of $57.76. The company has a quick ratio of 2.42, a current ratio of 2.70 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of -68.59 and a beta of 2.11.

Twist Bioscience (NASDAQ:TWST) last released its earnings results on Monday, May 4th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.22). Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.The business had revenue of $110.72 million for the quarter, compared to the consensus estimate of $107.64 million. During the same quarter in the previous year, the company earned ($0.66) earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. Analysts predict that Twist Bioscience will post -2.02 EPS for the current fiscal year.

Insider Activity at Twist Bioscience

In other Twist Bioscience news, Director Melissa A. Starovasnik sold 500 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $61.83, for a total transaction of $30,915.00. Following the completion of the transaction, the director owned 25,222 shares in the company, valued at approximately $1,559,476.26. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Emily M. Leproust sold 18,880 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $95.00, for a total transaction of $1,793,600.00. Following the completion of the transaction, the chief executive officer owned 824,039 shares in the company, valued at $78,283,705. This trade represents a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 60,382 shares of company stock valued at $4,861,215 over the last ninety days. Insiders own 3.08% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

Several large investors have recently modified their holdings of the company. ARK Investment Management LLC lifted its stake in shares of Twist Bioscience by 12.4% in the 4th quarter. ARK Investment Management LLC now owns 7,559,495 shares of the company’s stock valued at $239,787,000 after purchasing an additional 832,687 shares during the period. William Blair Investment Management LLC grew its stake in Twist Bioscience by 43.7% in the 4th quarter. William Blair Investment Management LLC now owns 5,954,429 shares of the company’s stock valued at $188,874,000 after purchasing an additional 1,812,146 shares during the period. EdgePoint Investment Group Inc. grew its position in shares of Twist Bioscience by 31.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 5,377,991 shares of the company’s stock valued at $170,590,000 after acquiring an additional 1,295,672 shares during the period. State Street Corp raised its stake in shares of Twist Bioscience by 17.4% in the fourth quarter. State Street Corp now owns 3,627,818 shares of the company’s stock valued at $115,074,000 after buying an additional 538,755 shares during the period. Finally, Millennium Management LLC grew its stake in Twist Bioscience by 151.5% in the 3rd quarter. Millennium Management LLC now owns 1,793,850 shares of the company’s stock valued at $50,479,000 after buying an additional 1,080,722 shares in the last quarter.

About Twist Bioscience

Twist Bioscience Corporation is a synthetic biology company specializing in the development and commercialization of DNA-based products and solutions. Founded in 2013 and headquartered in South San Francisco, California, the company has pioneered a proprietary silicon-based DNA synthesis platform designed for high-throughput production of synthetic genes and oligonucleotides. Twist leverages semiconductor manufacturing techniques to enable precise, scalable synthesis of DNA at speeds and volumes unattainable with traditional methods.

At the core of Twist’s offering is its proprietary platform that automates the synthesis of custom DNA fragments, gene libraries, and long oligonucleotides.