Twist Bioscience (NASDAQ:TWST) Issues Earnings Results

Twist Bioscience (NASDAQ:TWST) announced its quarterly earnings results on Friday. The company reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.71), Briefing.com reports. The firm had revenue of $81.50 million for the quarter, compared to analyst estimates of $77.40 million. Twist Bioscience had a negative net margin of 69.24% and a negative return on equity of 31.61%. The business’s revenue was up 27.7% compared to the same quarter last year. During the same period last year, the firm posted ($1.01) EPS. Twist Bioscience updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Twist Bioscience Trading Up 5.5 %

Shares of TWST traded up $2.36 during mid-day trading on Monday, reaching $45.33. 2,115,897 shares of the stock traded hands, compared to its average volume of 1,052,242. Twist Bioscience has a 1 year low of $14.42 and a 1 year high of $60.90. The firm has a fifty day moving average price of $50.58 and a 200 day moving average price of $41.41. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -13.46 and a beta of 1.80.

Analyst Ratings Changes

TWST has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Twist Bioscience from $28.00 to $35.00 and gave the stock an “underweight” rating in a report on Monday. Evercore ISI increased their price target on shares of Twist Bioscience from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. TD Cowen raised their price objective on shares of Twist Bioscience from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Guggenheim began coverage on shares of Twist Bioscience in a research report on Tuesday, June 4th. They set a “buy” rating and a $53.00 target price for the company. Finally, Scotiabank raised their price objective on shares of Twist Bioscience from $43.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Twist Bioscience presently has a consensus rating of “Moderate Buy” and an average price target of $48.78.

Insiders Place Their Bets

In other Twist Bioscience news, SVP Paula Green sold 918 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $51.33, for a total value of $47,120.94. Following the sale, the senior vice president now owns 90,593 shares in the company, valued at $4,650,138.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Paula Green sold 918 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $51.33, for a total transaction of $47,120.94. Following the completion of the transaction, the senior vice president now directly owns 90,593 shares of the company’s stock, valued at $4,650,138.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Emily M. Leproust sold 1,732 shares of Twist Bioscience stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $49.41, for a total transaction of $85,578.12. Following the completion of the transaction, the chief executive officer now directly owns 505,846 shares of the company’s stock, valued at $24,993,850.86. The disclosure for this sale can be found here. Insiders sold 11,289 shares of company stock valued at $577,943 over the last three months. Insiders own 3.92% of the company’s stock.

Twist Bioscience Company Profile

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.