Twist Bioscience (NASDAQ:TWST) Shares Gap Down to $33.73

Shares of Twist Bioscience Co. (NASDAQ:TWST - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $33.73, but opened at $31.32. Twist Bioscience shares last traded at $31.44, with a volume of 94,932 shares trading hands.

Analyst Upgrades and Downgrades

TWST has been the subject of a number of analyst reports. Scotiabank raised their price target on Twist Bioscience from $30.00 to $43.00 and gave the company a "sector outperform" rating in a research note on Monday, February 5th. Barclays decreased their price target on Twist Bioscience from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group upgraded Twist Bioscience from a "neutral" rating to a "buy" rating and raised their price target for the company from $25.00 to $45.00 in a research note on Wednesday, January 17th.

Twist Bioscience Price Performance

The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -8.83 and a beta of 1.62. The stock has a 50-day moving average price of $36.42 and a 200-day moving average price of $29.60.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The company reported ($0.75) EPS for the quarter, topping analysts' consensus estimates of ($0.78) by $0.03. Twist Bioscience had a negative return on equity of 32.16% and a negative net margin of 78.44%. The firm had revenue of $71.50 million for the quarter, compared to analyst estimates of $67.59 million. During the same quarter last year, the company earned ($0.74) EPS. The company's revenue was up 31.8% on a year-over-year basis. Equities analysts forecast that Twist Bioscience Co. will post -3.17 earnings per share for the current year.

Insider Activity

In other Twist Bioscience news, Director Robert Chess sold 4,110 shares of Twist Bioscience stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $34.98, for a total transaction of $143,767.80. Following the transaction, the director now directly owns 64,169 shares of the company's stock, valued at approximately $2,244,631.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert Chess sold 4,110 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $34.98, for a total value of $143,767.80. Following the transaction, the director now directly owns 64,169 shares of the company's stock, valued at approximately $2,244,631.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Emily M. Leproust sold 1,128 shares of the business's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $33.52, for a total value of $37,810.56. Following the completion of the transaction, the chief executive officer now directly owns 515,281 shares in the company, valued at $17,272,219.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,481 shares of company stock worth $365,655. Insiders own 3.92% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TWST. Artisan Partners Limited Partnership raised its stake in Twist Bioscience by 111.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,723,305 shares of the company's stock worth $137,241,000 after buying an additional 1,961,621 shares during the period. State Street Corp raised its stake in Twist Bioscience by 53.9% during the 2nd quarter. State Street Corp now owns 3,816,188 shares of the company's stock worth $133,414,000 after buying an additional 1,335,779 shares during the period. Invesco Ltd. raised its stake in Twist Bioscience by 1,496.2% during the 3rd quarter. Invesco Ltd. now owns 831,006 shares of the company's stock worth $16,836,000 after buying an additional 778,944 shares during the period. BlackRock Inc. raised its stake in Twist Bioscience by 13.2% during the 1st quarter. BlackRock Inc. now owns 6,213,441 shares of the company's stock worth $93,699,000 after buying an additional 725,733 shares during the period. Finally, Marshall Wace LLP increased its holdings in Twist Bioscience by 150.3% during the 2nd quarter. Marshall Wace LLP now owns 901,464 shares of the company's stock worth $18,444,000 after purchasing an additional 541,327 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.