Twist Bioscience (NASDAQ:TWST) Hits New 12-Month High - Here's Why

Key Points

• Twist Bioscience shares hit a new 52-week high, trading as high as $104.31 after a strong recent run that pushed the stock well above its 50-day and 200-day moving averages.
• Analysts have been turning more bullish on the stock, with multiple firms raising price targets; Guggenheim lifted its target to $107 and the consensus rating remains Moderate Buy.
• The company’s latest earnings showed revenue growth of 19.3% year over year to $110.72 million, though it still posted a wider-than-expected loss and remains unprofitable.

Twist Bioscience Corporation (NASDAQ:TWST - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $104.31 and last traded at $103.2480, with a volume of 339353 shares traded. The stock had previously closed at $102.88.

Analysts Set New Price Targets

TWST has been the subject of several analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Guggenheim increased their price objective on Twist Bioscience from $60.00 to $107.00 and gave the company a "buy" rating in a report on Monday. Canaccord Genuity Group started coverage on Twist Bioscience in a research report on Monday, June 15th. They set a "buy" rating and a $90.00 target price for the company. Piper Sandler assumed coverage on Twist Bioscience in a research report on Thursday, June 11th. They issued an "overweight" rating and a $85.00 price target on the stock. Finally, Barclays increased their price target on Twist Bioscience from $65.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.30.

Twist Bioscience Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.42 and a current ratio of 2.70. The business has a 50 day moving average price of $68.71 and a 200-day moving average price of $52.54. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of -77.96 and a beta of 2.23.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.22). Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.The business had revenue of $110.72 million for the quarter, compared to analyst estimates of $107.64 million. During the same period in the prior year, the business earned ($0.66) EPS. The company's revenue for the quarter was up 19.3% on a year-over-year basis. Research analysts predict that Twist Bioscience Corporation will post -2.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Paula Green sold 291 shares of Twist Bioscience stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $87.32, for a total value of $25,410.12. Following the completion of the sale, the senior vice president owned 120,414 shares in the company, valued at $10,514,550.48. The trade was a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dennis Cho sold 14,205 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total transaction of $1,274,898.75. Following the transaction, the insider owned 105,141 shares in the company, valued at $9,436,404.75. The trade was a 11.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 67,580 shares of company stock worth $5,169,482 over the last ninety days. 3.08% of the stock is owned by company insiders.

Institutional Trading of Twist Bioscience

Several large investors have recently made changes to their positions in TWST. ARK Investment Management LLC increased its position in Twist Bioscience by 12.4% in the 4th quarter. ARK Investment Management LLC now owns 7,559,495 shares of the company's stock valued at $239,787,000 after buying an additional 832,687 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Twist Bioscience by 43.7% during the fourth quarter. William Blair Investment Management LLC now owns 5,954,429 shares of the company's stock valued at $188,874,000 after acquiring an additional 1,812,146 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Twist Bioscience by 31.7% during the fourth quarter. EdgePoint Investment Group Inc. now owns 5,377,991 shares of the company's stock worth $170,590,000 after purchasing an additional 1,295,672 shares during the period. State Street Corp raised its position in shares of Twist Bioscience by 17.4% during the fourth quarter. State Street Corp now owns 3,627,818 shares of the company's stock worth $115,074,000 after purchasing an additional 538,755 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Twist Bioscience by 151.5% in the 3rd quarter. Millennium Management LLC now owns 1,793,850 shares of the company's stock worth $50,479,000 after purchasing an additional 1,080,722 shares in the last quarter.

About Twist Bioscience

Twist Bioscience Corporation is a synthetic biology company specializing in the development and commercialization of DNA-based products and solutions. Founded in 2013 and headquartered in South San Francisco, California, the company has pioneered a proprietary silicon-based DNA synthesis platform designed for high-throughput production of synthetic genes and oligonucleotides. Twist leverages semiconductor manufacturing techniques to enable precise, scalable synthesis of DNA at speeds and volumes unattainable with traditional methods.

At the core of Twist's offering is its proprietary platform that automates the synthesis of custom DNA fragments, gene libraries, and long oligonucleotides.

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