Twist Bioscience (NASDAQ:TWST) Stock Falls 4.8% - Here's Why

Key Points

• Twist Bioscience shares fell 4.8% to about $125.79 in mid-day trading, with volume roughly in line with its average; the article did not cite a specific trigger for the decline.
• Analyst views were mixed: MarketBeat reported an average “Hold” rating and a $153 average price target, with seven Buy, three Hold, and two Sell ratings.
• Company insiders sold 495,279 shares worth about $80.5 million over the prior 90 days; the disclosed sales mentioned were to cover tax withholding on vested equity awards.

Shares of Twist Bioscience Corporation (NASDAQ:TWST - Get Free Report) were down 4.8% during mid-day trading on Wednesday. The stock traded as low as $125.01 and last traded at $125.7850. Approximately 1,776,661 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 1,764,008 shares. The stock had previously closed at $132.13.

Analyst Ratings Changes

TWST has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Twist Bioscience in a research report on Thursday, October 8th. They issued a "hold" rating and a $150.00 target price on the stock. Robert W. Baird raised their price target on Twist Bioscience from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. UBS Group assumed coverage on Twist Bioscience in a research note on Wednesday, September 9th. They issued a "neutral" rating and a $144.00 price objective on the stock. Guggenheim upped their price objective on Twist Bioscience from $107.00 to $212.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. Finally, Barclays upped their price objective on Twist Bioscience from $112.00 to $215.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $153.00.

Twist Bioscience Price Performance

The firm's 50-day moving average price is $151.09 and its 200-day moving average price is $91.97. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $7.85 billion, a PE ratio of -56.67 and a beta of 2.25.

Insider Activity at Twist Bioscience

In other Twist Bioscience news, SVP Paula Green sold 1,007 shares of the company's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $135.40, for a total transaction of $136,347.80. Following the sale, the senior vice president directly owned 105,625 shares in the company, valued at $14,301,625. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Adam Laponis sold 2,462 shares of the firm's stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $156.30, for a total value of $384,810.60. Following the completion of the sale, the chief financial officer directly owned 98,114 shares of the company's stock, valued at $15,335,218.20. The trade was a 2.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 495,279 shares of company stock valued at $80,489,387 over the last ninety days. 3.08% of the stock is currently owned by company insiders.

Institutional Trading of Twist Bioscience

A number of institutional investors have recently bought and sold shares of the stock. Abacus Wealth Partners LLC increased its position in Twist Bioscience by 4.3% during the third quarter. Abacus Wealth Partners LLC now owns 2,332 shares of the company's stock valued at $451,000 after acquiring an additional 96 shares during the last quarter. Root Financial Partners LLC bought a new position in Twist Bioscience during the 3rd quarter valued at about $33,000. GAMMA Investing LLC grew its holdings in Twist Bioscience by 24.4% during the 2nd quarter. GAMMA Investing LLC now owns 943 shares of the company's stock valued at $97,000 after purchasing an additional 185 shares during the last quarter. Abel Hall LLC raised its position in Twist Bioscience by 3.6% in the 3rd quarter. Abel Hall LLC now owns 5,514 shares of the company's stock worth $1,066,000 after purchasing an additional 191 shares during the period. Finally, Allworth Financial LP raised its position in Twist Bioscience by 54.9% in the 2nd quarter. Allworth Financial LP now owns 601 shares of the company's stock worth $62,000 after purchasing an additional 213 shares during the period.

About Twist Bioscience

Twist Bioscience Corporation is a biotechnology company that uses a silicon-based platform to manufacture synthetic DNA. Its technology supports the production of many DNA sequences in parallel for research and commercial applications. The company provides synthetic genes, gene fragments and oligonucleotide pools, as well as tools for next-generation sequencing, including target-enrichment products. Through its biopharma business, Twist also offers antibody discovery and related services to support the development of therapeutics.

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