Twist Bioscience (NASDAQ:TWST) Trading Down 4.7%

Twist Bioscience Co. (NASDAQ:TWST) fell 4.7% during trading on Wednesday . The company traded as low as $42.25 and last traded at $42.45. 121,859 shares traded hands during trading, a decline of 88% from the average session volume of 1,039,491 shares. The stock had previously closed at $44.56.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TWST shares. TD Cowen raised their target price 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. Scotiabank raised their price objective on Twist Bioscience from $43.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday, May 6th. Robert W. Baird upped their target price on shares of Twist Bioscience from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Barclays cut their price objective on shares of Twist Bioscience from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Evercore ISI lifted their target price on Twist Bioscience from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, Twist Bioscience has an average rating of “Moderate Buy” and a consensus price target of $48.22.

Twist Bioscience Trading Down 3.2 %

The company has a fifty day simple moving average of $50.49 and a 200-day simple moving average of $41.99.

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

Insider Buying and Selling at Twist Bioscience

In other Twist Bioscience news, SVP Paula Green sold 918 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $51.33, for a total transaction of $47,120.94. Following the completion of the sale, the senior vice president now 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 the SEC website. In other news, CEO Emily M. Leproust sold 2,408 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $51.33, for a total value of $123,602.64. Following the transaction, the chief executive officer now directly owns 507,578 shares in the company, valued at $26,053,978.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Paula Green sold 918 shares of the business’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 completion of the transaction, the senior vice president now owns 90,593 shares in the company, valued at $4,650,138.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,327 shares of company stock valued at $978,760. Company insiders own 3.92% of the company’s stock.

Hedge Funds Weigh In On Twist Bioscience

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership grew its position in shares of Twist Bioscience by 111.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,723,305 shares of the company’s stock valued at $137,241,000 after acquiring an additional 1,961,621 shares during the period. Nikko Asset Management Americas Inc. raised its position in shares of Twist Bioscience by 2.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,583,443 shares of the company’s stock valued at $131,835,000 after buying an additional 99,511 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Twist Bioscience by 29.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,708 shares of the company’s stock valued at $46,732,000 after buying an additional 284,884 shares during the period. Baillie Gifford & Co. increased its holdings in Twist Bioscience by 12.1% in the 1st quarter. Baillie Gifford & Co. now owns 1,227,528 shares of the company’s stock valued at $42,116,000 after purchasing an additional 132,770 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Twist Bioscience by 1,021.8% in 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.

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.