Twist Bioscience (NASDAQ:TWST) Price Target Raised to $48.00

Twist Bioscience (NASDAQ:TWST - Get Free Report) had its price target lifted by Scotiabank from $43.00 to $48.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's target price would indicate a potential upside of 7.45% from the company's previous close.

TWST has been the topic of several other research reports. Barclays increased their price target on Twist Bioscience from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday. The Goldman Sachs Group raised Twist Bioscience from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $25.00 to $45.00 in a research note on Wednesday, January 17th. Robert W. Baird upped their price target on Twist Bioscience from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Evercore ISI upped their target price on shares of Twist Bioscience from $46.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Twist Bioscience presently has an average rating of "Buy" and an average price target of $42.50.

Twist Bioscience Stock Performance

Shares of TWST stock traded up $3.46 during trading on Monday, hitting $44.67. The company had a trading volume of 2,112,265 shares, compared to its average volume of 988,563. The stock's 50-day moving average price is $34.03 and its 200 day moving average price is $31.14. The firm has a market capitalization of $2.60 billion, a P/E ratio of -13.26 and a beta of 1.64. Twist Bioscience has a one year low of $11.81 and a one year high of $44.90.

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

Insiders Place Their Bets

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

Institutional Trading of Twist Bioscience

A number of large investors have recently modified their holdings of TWST. Artisan Partners Limited Partnership lifted its position in Twist Bioscience by 111.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,723,305 shares of the company's stock valued at $137,241,000 after purchasing an additional 1,961,621 shares during the last quarter. Invesco Ltd. raised its position in Twist Bioscience by 1,496.2% during the third quarter. Invesco Ltd. now owns 831,006 shares of the company's stock valued at $16,836,000 after purchasing an additional 778,944 shares in the last quarter. ARK Investment Management LLC lifted its stake in Twist Bioscience by 6.3% during the fourth quarter. ARK Investment Management LLC now owns 7,213,257 shares of the company's stock worth $265,881,000 after purchasing an additional 427,274 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Twist Bioscience in the 4th quarter worth about $11,956,000. Finally, Norges Bank bought a new position in shares of Twist Bioscience during the 4th quarter valued at about $10,766,000.

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.