Twist Bioscience (NASDAQ:TWST) Sets New 12-Month High Following Analyst Upgrade

Twist Bioscience Co. (NASDAQ:TWST - Get Free Report) shares hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from $43.00 to $48.00. Scotiabank currently has a sector outperform rating on the stock. Twist Bioscience traded as high as $44.42 and last traded at $44.12, with a volume of 335614 shares trading hands. The stock had previously closed at $41.21.

Other analysts have also issued research reports about the stock. Evercore ISI boosted their target price on shares of Twist Bioscience from $46.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday. Robert W. Baird increased their price objective on shares of Twist Bioscience from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday. Barclays lifted their target price on Twist Bioscience from $40.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday. Finally, The Goldman Sachs Group upgraded Twist Bioscience from a "neutral" rating to a "buy" rating and raised their target price for the company from $25.00 to $45.00 in a research note on Wednesday, January 17th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Twist Bioscience has an average rating of "Buy" and an average price target of $42.50.

Insider Activity at Twist Bioscience

In other Twist Bioscience news, COO Patrick John Finn sold 2,174 shares of the business's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $30.12, for a total transaction of $65,480.88. Following the sale, the chief operating officer now directly owns 176,206 shares in the company, valued at approximately $5,307,324.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Emily M. Leproust sold 1,132 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $32.74, for a total value of $37,061.68. Following the completion of the sale, the chief executive officer now owns 514,149 shares in the company, valued at $16,833,238.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Patrick John Finn sold 2,174 shares of the firm's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $30.12, for a total value of $65,480.88. Following the transaction, the chief operating officer now directly owns 176,206 shares of the company's stock, valued at approximately $5,307,324.72. The disclosure for this sale can be found here. Insiders sold 13,211 shares of company stock worth $449,573 in the last 90 days. Corporate insiders own 3.92% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new position in shares of Twist Bioscience in the 3rd quarter worth $29,000. China Universal Asset Management Co. Ltd. increased its stake in Twist Bioscience by 96.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,470 shares of the company's stock worth $30,000 after purchasing an additional 721 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Twist Bioscience during the 4th quarter worth about $30,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Twist Bioscience by 51.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,453 shares of the company's stock worth $70,000 after buying an additional 1,179 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Twist Bioscience by 3,519.8% in the fourth quarter. International Assets Investment Management LLC now owns 4,018 shares of the company's stock worth $148,000 after buying an additional 3,907 shares during the period.

Twist Bioscience Stock Up 8.4 %

The firm's 50-day moving average price is $34.03 and its two-hundred day moving average price is $31.14. The firm has a market capitalization of $2.60 billion, a PE ratio of -13.26 and a beta of 1.64.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.05. The firm had revenue of $75.30 million for the quarter, compared to analysts' expectations of $70.70 million. Twist Bioscience had a negative net margin of 69.24% and a negative return on equity of 31.61%. The company's quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.06) EPS. Equities research analysts forecast that Twist Bioscience Co. will post -3.17 EPS for the current year.

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.