Twist Bioscience (NASDAQ:TWST) Shares Gap Up - Here's What Happened

Twist Bioscience Co. (NASDAQ:TWST - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $39.24, but opened at $42.07. Twist Bioscience shares last traded at $35.51, with a volume of 472,818 shares.

Analyst Ratings Changes

A number of research firms have recently commented on TWST. Guggenheim reiterated a "buy" rating and set a $50.00 price target on shares of Twist Bioscience in a report on Tuesday. JPMorgan Chase & Co. cut their target price on Twist Bioscience from $40.00 to $33.00 and set an "underweight" rating on the stock in a research note on Tuesday. The Goldman Sachs Group decreased their price target on Twist Bioscience from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Tuesday. 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 report on Tuesday. Finally, Barclays decreased their target price on Twist Bioscience from $58.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Twist Bioscience currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.40.

Twist Bioscience Stock Performance

The business's fifty day moving average is $38.63 and its 200-day moving average is $43.65. 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 cap of $1.85 billion, a PE ratio of -9.12 and a beta of 2.54.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $92.79 million for the quarter, compared to the consensus estimate of $92.00 million. Twist Bioscience had a negative net margin of 59.76% and a negative return on equity of 32.69%. As a group, research analysts predict that Twist Bioscience Co. will post -2.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Paula Green sold 918 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.91, for a total value of $37,555.38. Following the transaction, the senior vice president now directly owns 130,912 shares in the company, valued at $5,355,609.92. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Emily M. Leproust sold 5,042 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $37.65, for a total value of $189,831.30. Following the sale, the chief executive officer now owns 655,432 shares of the company's stock, valued at $24,677,014.80. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,991 shares of company stock worth $742,654. Company insiders own 3.01% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of Twist Bioscience by 547.2% in the first quarter. Versant Capital Management Inc now owns 686 shares of the company's stock worth $27,000 after buying an additional 580 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Twist Bioscience by 56.4% during the 4th quarter. Van ECK Associates Corp now owns 740 shares of the company's stock valued at $34,000 after purchasing an additional 267 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Twist Bioscience by 68.1% during the first quarter. GAMMA Investing LLC now owns 748 shares of the company's stock valued at $29,000 after purchasing an additional 303 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Twist Bioscience in the third quarter worth about $34,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Twist Bioscience in the fourth quarter worth about $43,000.

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.