Twist Bioscience (NASDAQ:TWST) Shares Gap Up – Here’s Why

Shares of Twist Bioscience Co. (NASDAQ:TWST) gapped up before the market opened on Monday . The stock had previously closed at $39.24, but opened at $42.07. Twist Bioscience shares last traded at $35.51, with a volume of 472,818 shares changing hands.

Analyst Ratings Changes

TWST has been the topic of a number of research reports. Robert W. Baird upped their price target on Twist Bioscience from $48.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Barclays decreased their target price on Twist Bioscience from $58.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Scotiabank restated an “outperform” rating on shares of Twist Bioscience in a research report on Tuesday, February 4th. Guggenheim set a $50.00 price objective on shares of Twist Bioscience in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Twist Bioscience from $35.00 to $40.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.80.

Twist Bioscience Stock Down 5.4 %

The firm has a market capitalization of $2.21 billion, a P/E ratio of -10.96 and a beta of 2.54. The firm’s fifty day moving average price is $39.24 and its 200-day moving average price is $44.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.96 and a quick ratio of 4.62.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.09. Twist Bioscience had a negative return on equity of 32.69% and a negative net margin of 59.76%. The company had revenue of $88.70 million for the quarter, compared to the consensus estimate of $86.96 million. During the same quarter in the previous year, the business earned ($0.75) EPS. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, equities research analysts forecast that Twist Bioscience Co. will post -2.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Patrick John Finn sold 2,058 shares of the company’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $39.99, for a total transaction of $82,299.42. Following the completion of the sale, the chief operating officer now directly owns 265,460 shares of the company’s stock, valued at $10,615,745.40. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Emily M. Leproust sold 2,402 shares of Twist Bioscience stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.91, for a total value of $98,265.82. Following the completion of the transaction, the chief executive officer now directly owns 662,692 shares in the company, valued at $27,110,729.72. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,137 shares of company stock worth $530,112. 3.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC lifted its position in shares of Twist Bioscience by 161.4% in the 1st quarter. CWM LLC now owns 16,272 shares of the company’s stock valued at $639,000 after acquiring an additional 10,048 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Twist Bioscience by 2.4% in the first quarter. New York State Common Retirement Fund now owns 452,750 shares of the company’s stock valued at $17,775,000 after purchasing an additional 10,761 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Twist Bioscience by 22.0% in the first quarter. Xponance Inc. now owns 5,953 shares of the company’s stock valued at $234,000 after purchasing an additional 1,072 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Twist Bioscience by 27.3% in the first quarter. Envestnet Asset Management Inc. now owns 70,279 shares of the company’s stock worth $2,759,000 after buying an additional 15,085 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in shares of Twist Bioscience by 8.0% during the first quarter. D.A. Davidson & CO. now owns 22,710 shares of the company’s stock valued at $892,000 after buying an additional 1,682 shares in 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.