Twist Bioscience (NASDAQ:TWST) Hits New 52-Week High After Analyst Upgrade

Shares of Twist Bioscience Co. (NASDAQ:TWST) reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from $43.00 to $48.00. Scotiabank currently has a sector outperform rating on the stock. Twist Bioscience traded as high as $44.42 and last traded at $44.12, with a volume of 335614 shares. The stock had previously closed at $41.21.

TWST has been the subject of several other reports. Evercore ISI increased their price target on Twist Bioscience from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Barclays upped their price objective on shares of Twist Bioscience from $40.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Robert W. Baird raised their target price on shares of Twist Bioscience from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group raised shares of Twist Bioscience from a “neutral” rating to a “buy” rating and upped their price target for the stock from $25.00 to $45.00 in a research report on Wednesday, January 17th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Twist Bioscience currently has a consensus rating of “Buy” and an average target price of $42.50.

Insiders Place Their Bets

In other news, COO Patrick John Finn sold 2,174 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $30.12, for a total value of $65,480.88. Following the sale, the chief operating officer now directly owns 176,206 shares in the company, valued at approximately $5,307,324.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Emily M. Leproust sold 1,487 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $37.43, for a total transaction of $55,658.41. Following the transaction, the chief executive officer now directly owns 516,409 shares in the company, valued at approximately $19,329,188.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Patrick John Finn sold 2,174 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $30.12, for a total value of $65,480.88. Following the completion of the sale, the chief operating officer now owns 176,206 shares of the company’s stock, valued at $5,307,324.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,525 shares of company stock worth $758,272. 3.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Twist Bioscience

A number of large investors have recently modified their holdings of the business. EdgeRock Capital LLC purchased a new position in shares of Twist Bioscience in the 4th quarter valued at approximately $30,000. Federated Hermes Inc. acquired a new position in Twist Bioscience during the 3rd quarter valued at approximately $29,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Twist Bioscience by 96.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,470 shares of the company’s stock worth $30,000 after buying an additional 721 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Twist Bioscience by 51.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,453 shares of the company’s stock worth $70,000 after buying an additional 1,179 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Twist Bioscience by 3,519.8% during the fourth quarter. International Assets Investment Management LLC now owns 4,018 shares of the company’s stock valued at $148,000 after buying an additional 3,907 shares during the last quarter.

Twist Bioscience Trading Down 3.4 %

The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -12.84 and a beta of 1.64. The firm has a 50-day moving average of $34.15 and a 200-day moving average of $31.52.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.05. Twist Bioscience had a negative return on equity of 31.61% and a negative net margin of 69.24%. The business had revenue of $75.30 million for the quarter, compared to the consensus estimate of $70.70 million. During the same quarter in the previous year, the business earned ($1.06) EPS. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, equities research analysts anticipate that Twist Bioscience Co. will post -3.17 EPS for the current year.

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.