Twist Bioscience (NASDAQ:TWST) Trading 8% Higher - Should You Buy?

Twist Bioscience Co. (NASDAQ:TWST - Get Free Report) shares were up 8% on Friday . The company traded as high as $47.37 and last traded at $47.13. Approximately 370,973 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 938,184 shares. The stock had previously closed at $43.62.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Twist Bioscience from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. TD Cowen reissued a "buy" rating and set a $58.00 price target on shares of Twist Bioscience in a research report on Tuesday, November 26th. Leerink Partners raised 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. Evercore ISI lifted their price objective on Twist Bioscience from $52.00 to $56.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Finally, Wolfe Research assumed coverage on shares of Twist Bioscience in a research report on Friday, December 13th. They set an "outperform" rating and a $60.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $51.90.

Twist Bioscience Stock Performance

The stock has a market cap of $2.85 billion, a PE ratio of -13.32 and a beta of 1.82. The stock has a fifty day simple moving average of $45.28 and a two-hundred day simple moving average of $46.77.

Insider Activity

In related news, insider Dennis Cho sold 659 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $41.56, for a total value of $27,388.04. Following the transaction, the insider now owns 94,481 shares in the company, valued at approximately $3,926,630.36. The trade was a 0.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Paula Green sold 1,057 shares of the firm'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 $43,928.92. Following the sale, the senior vice president now owns 121,013 shares of the company's stock, valued at approximately $5,029,300.28. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,659 shares of company stock worth $4,484,602. 3.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Twist Bioscience

Several institutional investors and hedge funds have recently made changes to their positions in TWST. Wilmington Savings Fund Society FSB acquired a new position in Twist Bioscience in the third quarter worth about $34,000. Signaturefd LLC lifted its holdings in Twist Bioscience by 63.0% during the 3rd quarter. Signaturefd LLC now owns 792 shares of the company's stock worth $36,000 after buying an additional 306 shares during the last quarter. Blue Trust Inc. grew its position in shares of Twist Bioscience by 2,912.8% in the 2nd quarter. Blue Trust Inc. now owns 1,175 shares of the company's stock worth $58,000 after acquiring an additional 1,136 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Twist Bioscience in the 2nd quarter valued at approximately $61,000. Finally, Beaird Harris Wealth Management LLC acquired a new stake in shares of Twist Bioscience during the 3rd quarter valued at approximately $95,000.

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.