Twist Bioscience (NASDAQ:TWST) Shares Up 8%

Twist Bioscience Co. (NASDAQ:TWST - Get Free Report)'s share price shot up 8% during trading on Tuesday . The stock traded as high as $31.81 and last traded at $31.81. 105,794 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 907,955 shares. The stock had previously closed at $29.45.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TWST shares. The Goldman Sachs Group upgraded shares of Twist Bioscience from a "neutral" rating to a "buy" rating and raised their target price for the stock from $25.00 to $45.00 in a research report on Wednesday, January 17th. Scotiabank raised their target price on shares of Twist Bioscience from $30.00 to $43.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 5th. Finally, Barclays lowered their target price on shares of Twist Bioscience from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 10th.

Twist Bioscience Stock Up 7.0 %

The company has a fifty day moving average of $35.26 and a two-hundred day moving average of $30.22. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -8.73 and a beta of 1.62.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last issued its quarterly earnings results on Friday, February 2nd. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $67.59 million. During the same period last year, the company earned ($0.74) earnings per share. The company's revenue for the quarter was up 31.8% on a year-over-year basis. Equities analysts anticipate that Twist Bioscience Co. will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Emily M. Leproust sold 1,487 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $37.43, for a total transaction of $55,658.41. Following the completion of the sale, the chief executive officer now directly owns 516,409 shares of the company's stock, valued at $19,329,188.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Twist Bioscience news, CEO Emily M. Leproust sold 1,487 shares of the firm's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $37.43, for a total value of $55,658.41. Following the completion of the sale, the chief executive officer now owns 516,409 shares of the company's stock, valued at $19,329,188.87. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Emily M. Leproust sold 1,128 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 515,281 shares of the company's stock, valued at approximately $17,272,219.12. The disclosure for this sale can be found here. Insiders sold a total of 11,037 shares of company stock valued at $384,092 over the last three months. 3.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Twist Bioscience

Hedge funds and other institutional investors have recently bought and sold shares of the business. EdgeRock Capital LLC acquired a new position in shares of Twist Bioscience during the 4th quarter worth $30,000. Federated Hermes Inc. acquired a new position in shares of Twist Bioscience during the 3rd quarter worth $29,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Twist Bioscience by 96.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,470 shares of the company's stock worth $30,000 after buying an additional 721 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Twist Bioscience by 51.8% during the 3rd 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 last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Twist Bioscience by 3,519.8% during the 4th 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 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.