Twist Bioscience Corporation (NASDAQ:TWST) Sees Large Growth in Short Interest

Key Points

• Twist Bioscience Corporation experienced a **39,277.3% increase** in short interest, totaling **10,750,000 shares** as of July 15th, compared to just 27,300 shares at the end of June.
• Insider sales amounted to **22,903 shares** worth **$794,706** over the past ninety days, with **3.01%** of the stock currently owned by insiders.
• Analysts have adjusted their price targets for Twist Bioscience, with Guggenheim maintaining a **"buy"** rating and a target of **$50.00**, while others, including Goldman Sachs, reduced their targets down to **$48.00**.

Twist Bioscience Corporation (NASDAQ:TWST - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 10,750,000 shares, agrowthof39,277.3% from the June 30th total of 27,300 shares. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 10.0 days. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 10.0 days.

Insider Transactions at Twist Bioscience

In related news, COO Patrick John Finn sold 2,800 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $37.65, for a total value of $105,420.00. Following the completion of the transaction, the chief operating officer directly owned 262,660 shares of the company's stock, valued at $9,889,149. This trade represents a 1.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Paula Green sold 1,101 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $37.65, for a total transaction of $41,452.65. Following the completion of the transaction, the senior vice president directly owned 129,380 shares of the company's stock, valued at $4,871,157. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,903 shares of company stock worth $794,706 over the last ninety days. 3.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TWST. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Twist Bioscience by 186.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,442,262 shares of the company's stock worth $95,883,000 after acquiring an additional 1,588,587 shares during the period. First Light Asset Management LLC purchased a new stake in Twist Bioscience during the fourth quarter worth about $56,984,000. EdgePoint Investment Group Inc. acquired a new position in shares of Twist Bioscience during the first quarter worth about $43,705,000. Marshall Wace LLP increased its stake in shares of Twist Bioscience by 15,927.8% during the fourth quarter. Marshall Wace LLP now owns 846,107 shares of the company's stock worth $39,319,000 after buying an additional 840,828 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Twist Bioscience during the first quarter worth approximately $31,960,000.

Analysts Set New Price Targets

Several equities analysts recently commented on TWST shares. Guggenheim reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Twist Bioscience in a research report on Tuesday, May 6th. Robert W. Baird reduced their price target on shares of Twist Bioscience from $54.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group reduced their price target on shares of Twist Bioscience from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Barclays reduced their price target on shares of Twist Bioscience from $58.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Twist Bioscience from $40.00 to $33.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Twist Bioscience currently has an average rating of "Moderate Buy" and an average price target of $50.40.

Twist Bioscience Stock Performance

Shares of NASDAQ TWST traded down $0.13 during midday trading on Friday, reaching $33.44. 903,723 shares of the stock were exchanged, compared to its average volume of 1,080,609. The firm has a 50-day simple moving average of $34.56 and a two-hundred day simple moving average of $38.86. Twist Bioscience has a twelve month low of $27.12 and a twelve month high of $55.33. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -10.28 and a beta of 2.41. The company has a quick ratio of 4.24, a current ratio of 4.51 and a debt-to-equity ratio of 0.03.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.10). The company had revenue of $92.79 million during the quarter, compared to analyst estimates of $92.00 million. Twist Bioscience had a negative net margin of 54.98% and a negative return on equity of 33.48%. As a group, analysts anticipate that Twist Bioscience will post -2.12 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.