Twist Bioscience (NASDAQ:TWST) Sets New 52-Week Low - Here's What Happened

Key Points

• Twist Bioscience shares hit a new 52-week low of $26.29, closing at $26.64 with trading volume of 189,360 shares.
• Several analysts have issued ratings: Cowen and Guggenheim maintained "buy" ratings while Robert W. Baird and JPMorgan Chase lowered their price targets.
• The company reported better-than-expected earnings with an EPS of ($0.47) compared to analyst estimates of ($0.54), along with revenue of $96.06 million.

Twist Bioscience Corporation (NASDAQ:TWST - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $26.29 and last traded at $26.64, with a volume of 189360 shares trading hands. The stock had previously closed at $27.52.

Analyst Upgrades and Downgrades

TWST has been the topic of a number of analyst reports. Evercore ISI set a $46.00 target price on Twist Bioscience in a research note on Monday, August 4th. Robert W. Baird dropped their price objective on Twist Bioscience from $54.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price objective on Twist Bioscience from $40.00 to $33.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of Twist Bioscience in a research note on Monday, August 4th. Finally, The Goldman Sachs Group dropped their price objective on Twist Bioscience from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.40.

Twist Bioscience Trading Up 2.6%

The company has a current ratio of 3.90, a quick ratio of 3.60 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $34.47 and a 200-day simple moving average of $37.89.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.07. The business had revenue of $96.06 million for the quarter, compared to analysts' expectations of $95.52 million. Twist Bioscience had a negative return on equity of 29.03% and a negative net margin of 23.51%. As a group, equities research analysts expect that Twist Bioscience Corporation will post -2.12 EPS for the current year.

Insider Transactions at Twist Bioscience

In other news, CEO Emily M. Leproust sold 1,678 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $35.76, for a total value of $60,005.28. Following the completion of the sale, the chief executive officer owned 645,782 shares of the company's stock, valued at $23,093,164.32. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam Laponis sold 2,449 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $38.15, for a total value of $93,429.35. Following the completion of the sale, the chief financial officer directly owned 103,569 shares of the company's stock, valued at $3,951,157.35. The trade was a 2.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,109 shares of company stock valued at $425,962 in the last quarter. 3.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Twist Bioscience

A number of institutional investors and hedge funds have recently modified their holdings of TWST. Farther Finance Advisors LLC raised its position in Twist Bioscience by 18.5% during the 1st quarter. Farther Finance Advisors LLC now owns 6,435 shares of the company's stock worth $251,000 after buying an additional 1,006 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Twist Bioscience by 6,499.1% in the first quarter. GAMMA Investing LLC now owns 29,366 shares of the company's stock worth $1,153,000 after acquiring an additional 28,921 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Twist Bioscience during the first quarter worth $396,000. SG Americas Securities LLC acquired a new position in Twist Bioscience during the first quarter valued at $893,000. Finally, Wells Fargo & Company MN lifted its position in Twist Bioscience by 34.5% during the fourth quarter. Wells Fargo & Company MN now owns 37,886 shares of the company's stock valued at $1,761,000 after purchasing an additional 9,722 shares during the period.

Twist Bioscience Company Profile

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.