Twist Bioscience (NASDAQ:TWST) Stock Price Up 8.6% - Here's What Happened

Key Points

• Twist Bioscience shares rose 8.6% in midday trading to $165.19, despite trading volume running about 70% below its average.
• Analyst sentiment remains mixed: eight analysts rate the stock a Buy, three rate it Hold and two rate it Sell, producing an overall Hold consensus and an average price target of $128.17.
• The company exceeded quarterly revenue expectations with $118.38 million, up 23.2% year over year, but missed on earnings with a loss of $0.56 per share versus the expected $0.51 loss; insiders have sold roughly $93.4 million of shares over the past three months.

Twist Bioscience Corporation (NASDAQ:TWST - Get Free Report)'s share price was up 8.6% during mid-day trading on Friday. The stock traded as high as $161.21 and last traded at $165.19. 512,240 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 1,687,368 shares. The stock had previously closed at $152.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TWST shares. Weiss Ratings restated a "sell (d-)" rating on shares of Twist Bioscience in a research report on Monday, September 21st. TD Cowen reissued a "buy" rating on shares of Twist Bioscience in a research report on Monday, August 3rd. Canaccord Genuity Group raised their price target on shares of Twist Bioscience from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Evercore downgraded shares of Twist Bioscience from an "outperform" rating to an "in-line" rating and set a $102.00 price objective on the stock. in a research report on Monday, July 6th. Finally, Jefferies Financial Group began coverage on shares of Twist Bioscience in a research note on Thursday. They issued a "hold" rating and a $150.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $128.17.

Twist Bioscience Stock Performance

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 firm has a 50-day simple moving average of $142.96 and a two-hundred day simple moving average of $95.95. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of -72.59 and a beta of 2.19.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.05). The firm had revenue of $118.38 million for the quarter, compared to analyst estimates of $114.55 million. Twist Bioscience had a negative net margin of 31.66% and a negative return on equity of 28.64%. The firm's quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. As a group, sell-side analysts forecast that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

Insider Transactions at Twist Bioscience

In other Twist Bioscience news, SVP Paula Green sold 10,088 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $188.88, for a total value of $1,905,421.44. Following the completion of the sale, the senior vice president directly owned 106,632 shares of the company's stock, valued at $20,140,652.16. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dennis Cho sold 9,514 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $188.88, for a total transaction of $1,797,004.32. Following the transaction, the insider owned 63,789 shares in the company, valued at approximately $12,048,466.32. This trade represents a 12.98% decrease in their position. 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. Over the last three months, insiders sold 599,458 shares of company stock valued at $93,383,392. Insiders own 3.08% of the company's stock.

Hedge Funds Weigh In On Twist Bioscience

Several hedge funds have recently bought and sold shares of TWST. GAMMA Investing LLC grew its holdings in shares of Twist Bioscience by 24.4% during the 2nd quarter. GAMMA Investing LLC now owns 943 shares of the company's stock worth $97,000 after purchasing an additional 185 shares in the last quarter. Allworth Financial LP raised its stake in shares of Twist Bioscience by 54.9% in the second quarter. Allworth Financial LP now owns 601 shares of the company's stock valued at $62,000 after purchasing an additional 213 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Twist Bioscience by 89.7% in the first quarter. PNC Financial Services Group Inc. now owns 958 shares of the company's stock valued at $46,000 after purchasing an additional 453 shares in the last quarter. Trifecta Capital Advisors LLC bought a new position in Twist Bioscience in the second quarter worth $63,000. Finally, Western Wealth Management LLC bought a new position in Twist Bioscience in the first quarter worth $31,000.

About Twist Bioscience

Twist Bioscience Corporation NASDAQ: TWST is a biotechnology company that develops and manufactures synthetic DNA using a silicon-based production platform. Its technology is designed to enable the precise, high-throughput synthesis of DNA at smaller scale and with potentially lower material consumption than traditional methods.

The company provides synthetic DNA products and services for applications in drug discovery and development, biotechnology research, agriculture, industrial chemicals and other life sciences markets.

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