Scotiabank Forecasts Strong Price Appreciation for Twist Bioscience (NASDAQ:TWST) Stock

Twist Bioscience (NASDAQ:TWST - Free Report) had its target price boosted by Scotiabank from $54.00 to $62.00 in a report issued on Tuesday,Benzinga reports. They currently have a sector outperform rating on the stock.

Several other equities analysts have also recently commented on the company. Barclays reduced their target price on Twist Bioscience from $55.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, November 19th. Wolfe Research assumed coverage on shares of Twist Bioscience in a research note on Friday, December 13th. They set an "outperform" rating and a $60.00 price objective on the stock. TD Cowen reissued a "buy" rating and issued a $58.00 target price on shares of Twist Bioscience in a research report on Tuesday, November 26th. Robert W. Baird increased their price target on shares of Twist Bioscience from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Leerink Partners boosted their price objective on Twist Bioscience from $45.00 to $48.00 and gave the company a "market perform" rating in a 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.80.

Twist Bioscience Stock Down 2.6 %

Shares of NASDAQ TWST traded down $1.40 during trading on Tuesday, reaching $52.30. 857,200 shares of the stock were exchanged, compared to its average volume of 790,815. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -14.53 and a beta of 1.87. The business's 50-day moving average price is $48.84 and its 200 day moving average price is $46.32. Twist Bioscience has a twelve month low of $27.41 and a twelve month high of $60.90.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last announced its earnings results on Monday, February 3rd. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.09. Twist Bioscience had a negative return on equity of 32.27% and a negative net margin of 66.69%. The company had revenue of $88.70 million during the quarter, compared to the consensus estimate of $86.96 million. During the same period last year, the firm earned ($0.75) earnings per share. The company's revenue was up 24.1% on a year-over-year basis. As a group, sell-side analysts expect that Twist Bioscience will post -2.27 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Paula Green sold 860 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $52.70, for a total value of $45,322.00. Following the sale, the senior vice president now owns 133,715 shares of the company's stock, valued at $7,046,780.50. This trade represents a 0.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dennis Cho sold 1,507 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $48.00, for a total transaction of $72,336.00. Following the transaction, the insider now directly owns 91,163 shares of the company's stock, valued at $4,375,824. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,002 shares of company stock valued at $2,851,681. 3.01% of the stock is currently owned by insiders.

Institutional Trading of Twist Bioscience

Several large investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its stake in shares of Twist Bioscience by 4.4% in the fourth quarter. ARK Investment Management LLC now owns 5,595,865 shares of the company's stock worth $260,040,000 after purchasing an additional 237,772 shares in the last quarter. State Street Corp grew its position in Twist Bioscience by 19.9% in the 3rd quarter. State Street Corp now owns 3,167,353 shares of the company's stock valued at $143,101,000 after buying an additional 526,028 shares in the last quarter. Geode Capital Management LLC increased its stake in Twist Bioscience by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,367,759 shares of the company's stock valued at $61,807,000 after buying an additional 26,145 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of Twist Bioscience during the 3rd quarter worth about $43,992,000. Finally, Wellington Management Group LLP raised its position in shares of Twist Bioscience by 188.5% during the 3rd quarter. Wellington Management Group LLP now owns 797,737 shares of the company's stock worth $36,042,000 after buying an additional 521,272 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.