Twist Bioscience (NASDAQ:TWST) Hits New 12-Month Low - Here's What Happened

Twist Bioscience Co. (NASDAQ:TWST - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $28.37 and last traded at $28.47, with a volume of 1137111 shares trading hands. The stock had previously closed at $30.91.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Twist Bioscience from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their price target on Twist Bioscience from $40.00 to $33.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. Scotiabank reissued an "outperform" rating on shares of Twist Bioscience in a research note on Tuesday, February 4th. Guggenheim restated a "buy" rating and issued a $50.00 target price on shares of Twist Bioscience in a report on Tuesday, May 6th. Finally, Robert W. Baird cut their target price on Twist Bioscience from $54.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Twist Bioscience currently has an average rating of "Moderate Buy" and a consensus price target of $50.40.

Twist Bioscience Stock Up 2.5%

The firm has a 50-day moving average of $36.44 and a two-hundred day moving average of $42.69. The company has a quick ratio of 4.62, a current ratio of 4.96 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.74 billion, a PE ratio of -8.55 and a beta of 2.54.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.10). The business 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 59.76% and a negative return on equity of 32.69%. Equities research analysts predict that Twist Bioscience Co. will post -2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Patrick John Finn sold 1,877 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $29.75, for a total value of $55,840.75. Following the transaction, the chief operating officer now directly owns 240,783 shares in the company, valued at approximately $7,163,294.25. This represents a 0.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Emily M. Leproust sold 2,402 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $40.91, for a total value of $98,265.82. Following the transaction, the chief executive officer now owns 662,692 shares in the company, valued at $27,110,729.72. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,011 shares of company stock valued at $951,499 over the last 90 days. 3.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Twist Bioscience

Several large investors have recently bought and sold shares of TWST. Intech Investment Management LLC increased its stake in Twist Bioscience by 18.9% in the first quarter. Intech Investment Management LLC now owns 28,917 shares of the company's stock valued at $1,135,000 after purchasing an additional 4,591 shares during the period. Bayforest Capital Ltd increased its stake in Twist Bioscience by 49.3% in the 1st quarter. Bayforest Capital Ltd now owns 4,860 shares of the company's stock valued at $191,000 after purchasing an additional 1,604 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Twist Bioscience by 186.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,442,262 shares of the company's stock valued at $95,883,000 after buying an additional 1,588,587 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Twist Bioscience by 4.2% during the first quarter. Goldman Sachs Group Inc. now owns 932,978 shares of the company's stock worth $36,629,000 after acquiring an additional 37,577 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Twist Bioscience during the 1st quarter worth approximately $9,492,000.

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.