Twist Bioscience (NASDAQ:TWST) Trading Down 3%

Twist Bioscience Co. (NASDAQ:TWST) dropped 3% during trading on Wednesday . The company traded as low as $46.24 and last traded at $46.25. Approximately 103,796 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,004,432 shares. The stock had previously closed at $47.67.

Analyst Ratings Changes

TWST has been the topic of a number of analyst reports. Robert W. Baird upped their price target on Twist Bioscience from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Barclays cut their price target on Twist Bioscience from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Guggenheim assumed coverage on Twist Bioscience in a research note on Tuesday, June 4th. They issued a “buy” rating and a $53.00 price objective for the company. The Goldman Sachs Group increased their price objective on Twist Bioscience from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, TD Cowen increased their price target on Twist Bioscience from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Twist Bioscience has an average rating of “Moderate Buy” and an average price target of $48.22.

Twist Bioscience Stock Down 1.8 %

The stock has a 50-day simple moving average of $47.57 and a 200-day simple moving average of $42.88. The firm has a market capitalization of $2.72 billion, a PE ratio of -13.85 and a beta of 1.76.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.71). Twist Bioscience had a negative return on equity of 32.17% and a negative net margin of 74.63%. The company had revenue of $81.50 million during the quarter, compared to the consensus estimate of $77.40 million. During the same period in the previous year, the business earned ($1.01) earnings per share. Twist Bioscience’s revenue was up 27.7% on a year-over-year basis. Equities analysts forecast that Twist Bioscience Co. will post -3.13 earnings per share for the current fiscal year.

Insider Transactions at Twist Bioscience

In related news, insider Dennis Cho sold 709 shares of Twist Bioscience stock in a transaction on Monday, August 5th. The stock was sold at an average price of $39.93, for a total transaction of $28,310.37. Following the completion of the sale, the insider now owns 78,996 shares of the company’s stock, valued at $3,154,310.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Twist Bioscience news, SVP Paula Green sold 1,137 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $39.93, for a total transaction of $45,400.41. Following the sale, the senior vice president now owns 88,837 shares in the company, valued at $3,547,261.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Cho sold 709 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $39.93, for a total value of $28,310.37. Following the sale, the insider now owns 78,996 shares in the company, valued at approximately $3,154,310.28. The disclosure for this sale can be found here. Insiders sold 17,388 shares of company stock valued at $776,599 over the last three months. Company insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

A number of large investors have recently added to or reduced their stakes in TWST. Artisan Partners Limited Partnership raised its position in Twist Bioscience by 111.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,723,305 shares of the company’s stock valued at $137,241,000 after purchasing an additional 1,961,621 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Twist Bioscience by 1,021.8% in the second quarter. Point72 Asset Management L.P. now owns 673,057 shares of the company’s stock worth $33,168,000 after buying an additional 613,057 shares during the period. Fred Alger Management LLC increased its holdings in shares of Twist Bioscience by 720.7% in the second quarter. Fred Alger Management LLC now owns 654,877 shares of the company’s stock worth $32,272,000 after buying an additional 575,080 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Twist Bioscience by 4,133.1% in the second quarter. Victory Capital Management Inc. now owns 308,171 shares of the company’s stock worth $15,187,000 after buying an additional 300,891 shares during the period. Finally, Norges Bank purchased a new position in shares of Twist Bioscience in the fourth quarter worth about $10,766,000.

About Twist Bioscience

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.