Twist Bioscience (NASDAQ:TWST) Stock Price Down 5.8% - Here's What Happened

Twist Bioscience Co. (NASDAQ:TWST - Get Free Report) dropped 5.8% during trading on Monday . The company traded as low as $49.12 and last traded at $49.26. Approximately 125,025 shares changed hands during trading, a decline of 84% from the average daily volume of 769,663 shares. The stock had previously closed at $52.30.

Analyst Ratings Changes

TWST has been the topic of a number of recent research reports. Robert W. Baird upped their price target on Twist Bioscience from $48.00 to $54.00 and gave the company an "outperform" rating in a research report on Tuesday, February 4th. Wolfe Research started coverage on Twist Bioscience in a research note on Friday, December 13th. They issued an "outperform" rating and a $60.00 target price on the stock. Scotiabank upped their target price on Twist Bioscience from $54.00 to $62.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, February 4th. Barclays reduced their price objective on Twist Bioscience from $55.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 19th. Finally, Leerink Partners increased their price objective on Twist Bioscience from $45.00 to $48.00 and gave the company a "market perform" rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $53.80.

Twist Bioscience Trading Up 3.3 %

The firm has a 50-day moving average of $48.57 and a 200-day moving average of $45.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.54 and a current ratio of 4.96. The firm has a market capitalization of $2.80 billion, a P/E ratio of -13.87 and a beta of 1.87.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $88.70 million for the quarter, compared to analyst estimates of $86.96 million. During the same period last year, the company earned ($0.75) EPS. Twist Bioscience's revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities research analysts anticipate that Twist Bioscience Co. will post -2.12 EPS for the current fiscal year.

Insider Activity

In related news, insider Dennis Cho sold 806 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $49.35, for a total transaction of $39,776.10. Following the completion of the sale, the insider now owns 112,221 shares in the company, valued at approximately $5,538,106.35. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Chess sold 2,940 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $53.13, for a total value of $156,202.20. Following the sale, the director now owns 18,173 shares of the company's stock, valued at approximately $965,531.49. This trade represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,180 shares of company stock worth $1,821,971 in the last quarter. 3.01% of the stock is owned by company insiders.

Institutional Trading of Twist Bioscience

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in Twist Bioscience by 407.1% during the third quarter. SG Americas Securities LLC now owns 10,958 shares of the company's stock valued at $495,000 after purchasing an additional 8,797 shares during the period. CWM LLC boosted its stake in shares of Twist Bioscience by 141.9% in the third quarter. CWM LLC now owns 5,894 shares of the company's stock worth $266,000 after acquiring an additional 3,457 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Twist Bioscience by 30.1% in the third quarter. Exchange Traded Concepts LLC now owns 20,141 shares of the company's stock worth $910,000 after acquiring an additional 4,661 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Twist Bioscience by 30.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 10,658 shares of the company's stock worth $482,000 after acquiring an additional 2,505 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Twist Bioscience by 224.3% in the third quarter. Blue Trust Inc. now owns 3,810 shares of the company's stock worth $188,000 after acquiring an additional 2,635 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.