Twist Bioscience (NASDAQ:TWST) Hits New 52-Week High – Here’s Why

Shares of Twist Bioscience Corporation (NASDAQ:TWST) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $90.06 and last traded at $88.8510, with a volume of 5311 shares changing hands. The stock had previously closed at $87.56.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TWST. TD Cowen boosted their price objective on Twist Bioscience from $68.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Barclays boosted their price target on shares of Twist Bioscience from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Leerink Partners set a $80.00 price objective on shares of Twist Bioscience in a report on Friday, May 22nd. Robert W. Baird boosted their target price on shares of Twist Bioscience from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, UBS Group set a $89.00 target price on Twist Bioscience in a report on Monday, June 15th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.60.

Twist Bioscience Trading Down 0.2%

The company has a quick ratio of 2.42, a current ratio of 2.70 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $5.29 billion, a PE ratio of -63.91 and a beta of 2.23. The business’s 50-day moving average is $64.56 and its two-hundred day moving average is $50.23.

Twist Bioscience (NASDAQ:TWST) last posted its earnings results on Monday, May 4th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.22). The firm had revenue of $110.72 million for the quarter, compared to analyst estimates of $107.64 million. Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.66) EPS. On average, analysts anticipate that Twist Bioscience Corporation will post -2.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Twist Bioscience

In other news, Director Melissa A. Starovasnik sold 1,000 shares of Twist Bioscience stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the transaction, the director directly owned 25,722 shares of the company’s stock, valued at $1,311,822. The trade was a 3.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Emily M. Leproust sold 8,061 shares of the company’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $65.29, for a total transaction of $526,302.69. Following the completion of the sale, the chief executive officer owned 858,887 shares of the company’s stock, valued at approximately $56,076,732.23. This trade represents a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 33,170 shares of company stock valued at $1,948,964. 3.08% of the stock is owned by company insiders.

Institutional Trading of Twist Bioscience

A number of hedge funds have recently added to or reduced their stakes in TWST. Perceptive Advisors LLC purchased a new position in Twist Bioscience during the 1st quarter worth $7,128,000. Western Wealth Management LLC acquired a new position in Twist Bioscience during the 1st quarter worth approximately $31,000. Flax Pond Capital LLC acquired a new stake in shares of Twist Bioscience in the 1st quarter valued at approximately $76,000. Bank of America Corp DE grew its holdings in Twist Bioscience by 46.3% during the first quarter. Bank of America Corp DE now owns 584,261 shares of the company’s stock worth $27,764,000 after acquiring an additional 184,907 shares during the period. Finally, Oddo BHF Asset Management Sas raised its position in Twist Bioscience by 7.6% in the first quarter. Oddo BHF Asset Management Sas now owns 145,960 shares of the company’s stock worth $6,936,000 after acquiring an additional 10,310 shares in the last quarter.

About Twist Bioscience

Twist Bioscience Corporation is a synthetic biology company specializing in the development and commercialization of DNA-based products and solutions. Founded in 2013 and headquartered in South San Francisco, California, the company has pioneered a proprietary silicon-based DNA synthesis platform designed for high-throughput production of synthetic genes and oligonucleotides. Twist leverages semiconductor manufacturing techniques to enable precise, scalable synthesis of DNA at speeds and volumes unattainable with traditional methods.

At the core of Twist’s offering is its proprietary platform that automates the synthesis of custom DNA fragments, gene libraries, and long oligonucleotides.