Barclays Has Lowered Expectations for Twist Bioscience (NASDAQ:TWST) Stock Price

Twist Bioscience (NASDAQ:TWST) had its price objective cut by analysts at Barclays from $55.00 to $52.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 26.49% from the stock’s previous close.

TWST has been the subject of several other research reports. Evercore ISI increased their price objective on shares of Twist Bioscience from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Scotiabank upped their price objective on shares of Twist Bioscience from $50.00 to $54.00 and gave the company a “sector outperform” rating in a report on Tuesday. Leerink Partners raised their price target on Twist Bioscience from $45.00 to $48.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Robert W. Baird boosted their price objective on shares of Twist Bioscience from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Twist Bioscience from $28.00 to $35.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.78.

Twist Bioscience Stock Down 0.5 %

Shares of Twist Bioscience stock opened at $41.11 on Tuesday. The company has a market cap of $2.41 billion, a PE ratio of -10.76 and a beta of 1.78. The business has a 50 day moving average price of $43.93 and a 200-day moving average price of $46.15. Twist Bioscience has a 52 week low of $23.07 and a 52 week high of $60.90.

Insider Buying and Selling

In other Twist Bioscience news, SVP Paula Green sold 1,057 shares of Twist Bioscience stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $41.56, for a total transaction of $43,928.92. Following the transaction, the senior vice president now directly owns 121,013 shares of the company’s stock, valued at approximately $5,029,300.28. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Emily M. Leproust sold 1,730 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $46.94, for a total transaction of $81,206.20. Following the completion of the sale, the chief executive officer now directly owns 495,523 shares of the company’s stock, valued at $23,259,849.62. This trade represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,118 shares of company stock worth $4,391,151. Corporate insiders own 3.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TWST. Thrivent Financial for Lutherans purchased a new position in shares of Twist Bioscience in the third quarter valued at about $43,992,000. Point72 Asset Management L.P. raised its position in Twist Bioscience by 1,021.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 673,057 shares of the company’s stock valued at $33,168,000 after purchasing an additional 613,057 shares during the last quarter. Fred Alger Management LLC lifted its holdings in Twist Bioscience by 720.7% in the 2nd 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. State Street Corp grew its position in shares of Twist Bioscience by 19.9% in the 3rd quarter. State Street Corp now owns 3,167,353 shares of the company’s stock worth $143,101,000 after buying an additional 526,028 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Twist Bioscience by 188.5% during the 3rd quarter. Wellington Management Group LLP now owns 797,737 shares of the company’s stock valued at $36,042,000 after purchasing an additional 521,272 shares during the period.

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.