Twist Bioscience (NASDAQ:TWST) Stock Price Down 4.5% - What's Next?

Twist Bioscience Co. (NASDAQ:TWST - Get Free Report) shares were down 4.5% during mid-day trading on Thursday . The stock traded as low as $49.14 and last traded at $49.98. Approximately 52,931 shares traded hands during trading, a decline of 92% from the average daily volume of 646,642 shares. The stock had previously closed at $52.34.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TWST. Scotiabank lifted their price objective on shares of Twist Bioscience from $50.00 to $54.00 and gave the company a "sector outperform" rating in a research report on Tuesday, November 19th. TD Cowen reissued a "buy" rating and issued a $58.00 price target on shares of Twist Bioscience in a report on Tuesday, November 26th. Leerink Partners boosted 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. Robert W. Baird boosted their price target on Twist Bioscience from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Finally, Wolfe Research started coverage on Twist Bioscience in a research report on Friday, December 13th. They set an "outperform" rating and a $60.00 price objective on the stock. 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.90.

Twist Bioscience Stock Performance

The firm's fifty day moving average is $46.78 and its 200-day moving average is $46.35. The company has a market capitalization of $3.20 billion, a P/E ratio of -14.96 and a beta of 1.85.

Insider Buying and Selling at Twist Bioscience

In other news, SVP Paula Green sold 860 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $52.70, for a total value of $45,322.00. Following the completion of the sale, the senior vice president now owns 133,715 shares of the company's stock, valued at approximately $7,046,780.50. This represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Emily M. Leproust sold 4,841 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $41.56, for a total value of $201,191.96. Following the completion of the sale, the chief executive officer now owns 603,886 shares in the company, valued at $25,097,502.16. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,379 shares of company stock worth $4,026,346. 3.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TWST. Wilmington Savings Fund Society FSB bought a new stake in Twist Bioscience during the 3rd quarter valued at $34,000. Signaturefd LLC increased its position in shares of Twist Bioscience by 63.0% during the third quarter. Signaturefd LLC now owns 792 shares of the company's stock worth $36,000 after acquiring an additional 306 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new stake in shares of Twist Bioscience in the 3rd quarter worth about $95,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Twist Bioscience by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,119 shares of the company's stock valued at $98,000 after acquiring an additional 381 shares in the last quarter. Finally, KBC Group NV boosted its stake in Twist Bioscience by 71.4% during the 4th quarter. KBC Group NV now owns 2,942 shares of the company's stock valued at $137,000 after purchasing an additional 1,226 shares during 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.

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