Twist Bioscience (NASDAQ:TWST) Shares Down 4.1%

Twist Bioscience Co. (NASDAQ:TWST - Get Free Report)'s share price traded down 4.1% during mid-day trading on Friday . The stock traded as low as $42.97 and last traded at $43.06. 318,326 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,012,328 shares. The stock had previously closed at $44.90.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Twist Bioscience in a report on Tuesday, June 4th. They issued a "buy" rating and a $53.00 target price for the company. Scotiabank lifted their target price on shares of Twist Bioscience from $43.00 to $48.00 and gave the stock a "sector outperform" rating in a report on Monday, May 6th. Evercore ISI lifted their target price on shares of Twist Bioscience from $46.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on shares of Twist Bioscience from $28.00 to $35.00 and gave the stock an "underweight" rating in a report on Monday, August 5th. Finally, Robert W. Baird boosted their price objective on shares of Twist Bioscience from $40.00 to $46.00 and gave the company an "outperform" rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $48.22.

Twist Bioscience Price Performance

The firm's 50-day moving average is $49.01 and its 200-day moving average is $42.61. The company has a market capitalization of $2.52 billion, a P/E ratio of -12.87 and a beta of 1.80.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last announced its 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). The business had revenue of $81.50 million for the quarter, compared to the consensus estimate of $77.40 million. Twist Bioscience had a negative net margin of 74.63% and a negative return on equity of 32.17%. The business's quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.01) earnings per share. As a group, analysts forecast that Twist Bioscience Co. will post -3.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Twist Bioscience news, insider Dennis Cho sold 709 shares of the company's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $39.93, for a total value of $28,310.37. Following the completion of the transaction, the insider now directly owns 78,996 shares in the company, valued at $3,154,310.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Twist Bioscience news, insider Dennis Cho sold 709 shares of the company's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $39.93, for a total value of $28,310.37. Following the completion of the transaction, the insider now directly owns 78,996 shares in the company, valued at $3,154,310.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Emily M. Leproust sold 5,139 shares of the business's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $39.93, for a total transaction of $205,200.27. Following the completion of the transaction, the chief executive officer now directly owns 499,593 shares in the company, valued at approximately $19,948,748.49. The disclosure for this sale can be found here. Insiders sold a total of 21,327 shares of company stock worth $978,760 over the last three months. 3.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Twist Bioscience

Several hedge funds have recently modified their holdings of TWST. Victory Capital Management Inc. purchased a new position in shares of Twist Bioscience in the fourth quarter worth $274,000. Los Angeles Capital Management LLC purchased a new position in shares of Twist Bioscience in the fourth quarter worth $321,000. Vestmark Advisory Solutions Inc. purchased a new stake in Twist Bioscience during the fourth quarter valued at $4,550,000. National Bank of Canada FI raised its stake in Twist Bioscience by 264,666.7% during the fourth quarter. National Bank of Canada FI now owns 79,430 shares of the company's stock valued at $2,751,000 after purchasing an additional 79,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Twist Bioscience by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 448,232 shares of the company's stock valued at $16,522,000 after purchasing an additional 5,728 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.