Scotiabank Forecasts Strong Price Appreciation for Twist Bioscience (NASDAQ:TWST) Stock

Twist Bioscience (NASDAQ:TWST) had its target price hoisted by investment analysts at Scotiabank from $50.00 to $54.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 32.19% from the company’s current price.

A number of other brokerages also recently issued reports on TWST. Robert W. Baird increased their price objective on Twist Bioscience from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays lowered 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. Leerink Partners upped their price objective on Twist Bioscience from $45.00 to $48.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Evercore ISI raised their target price on shares of Twist Bioscience from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Twist Bioscience from $28.00 to $35.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.11.

Twist Bioscience Trading Down 1.4 %

Shares of TWST traded down $0.58 on Tuesday, reaching $40.85. 115,865 shares of the company’s stock traded hands, compared to its average volume of 948,744. The stock has a market cap of $2.39 billion, a PE ratio of -10.69 and a beta of 1.78. Twist Bioscience has a 52-week low of $23.00 and a 52-week high of $60.90. The stock’s 50 day simple moving average is $43.98 and its two-hundred day simple moving average is $46.18.

Insider Activity

In other Twist Bioscience news, CFO Adam Laponis sold 856 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $41.81, for a total value of $35,789.36. Following the completion of the sale, the chief financial officer now owns 73,397 shares of the company’s stock, valued at $3,068,728.57. This trade represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Emily M. Leproust sold 14,334 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $44.60, for a total value of $639,296.40. Following the sale, the chief executive officer now directly owns 589,552 shares of the company’s stock, valued at $26,294,019.20. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,118 shares of company stock worth $4,391,151 over the last quarter. Insiders own 3.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TWST. American International Group Inc. grew its stake in Twist Bioscience by 0.8% in the 1st quarter. American International Group Inc. now owns 28,506 shares of the company’s stock worth $978,000 after acquiring an additional 213 shares in the last quarter. Caprock Group LLC increased its holdings in Twist Bioscience by 2.9% during the 2nd quarter. Caprock Group LLC now owns 7,851 shares of the company’s stock worth $387,000 after purchasing an additional 220 shares during the period. Signaturefd LLC lifted its holdings in shares of Twist Bioscience by 63.0% in the 3rd quarter. Signaturefd LLC now owns 792 shares of the company’s stock worth $36,000 after buying an additional 306 shares during the period. Arizona State Retirement System grew its position in shares of Twist Bioscience by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 16,187 shares of the company’s stock worth $798,000 after buying an additional 308 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Twist Bioscience by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,279 shares of the company’s stock valued at $457,000 after buying an additional 312 shares during the period.

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.