Twist Bioscience (NASDAQ:TWST) Stock Price Up 3.5% - Here's What Happened

Twist Bioscience Co. (NASDAQ:TWST - Get Free Report)'s share price shot up 3.5% during trading on Friday . The stock traded as high as $29.79 and last traded at $29.90. 209,914 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,094,475 shares. The stock had previously closed at $28.89.

Wall Street Analyst Weigh In

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

Twist Bioscience Price Performance

The company has a market cap of $1.85 billion, a PE ratio of -9.14 and a beta of 2.54. 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 firm has a 50 day simple moving average of $35.07 and a 200-day simple moving average of $42.25.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 32.69% and a negative net margin of 59.76%. As a group, research analysts predict that Twist Bioscience Co. will post -2.12 earnings per share for the current fiscal year.

Insider Transactions at Twist Bioscience

In other Twist Bioscience news, SVP Paula Green sold 918 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.91, for a total transaction of $37,555.38. Following the sale, the senior vice president now directly owns 130,912 shares of the company's stock, valued at approximately $5,355,609.92. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Emily M. Leproust sold 5,042 shares of Twist Bioscience stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $37.65, for a total value of $189,831.30. Following the transaction, the chief executive officer now owns 655,432 shares of the company's stock, valued at $24,677,014.80. The trade was a 0.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,850 shares of company stock worth $974,764. Company insiders own 3.01% of the company's stock.

Institutional Trading of Twist Bioscience

A number of hedge funds have recently modified their holdings of TWST. Versant Capital Management Inc raised its position in Twist Bioscience by 547.2% during the first quarter. Versant Capital Management Inc now owns 686 shares of the company's stock valued at $27,000 after acquiring an additional 580 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Twist Bioscience by 68.1% during the 1st quarter. GAMMA Investing LLC now owns 748 shares of the company's stock worth $29,000 after purchasing an additional 303 shares during the period. Van ECK Associates Corp increased 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 in the last quarter. Banque Transatlantique SA acquired a new position in shares of Twist Bioscience in the 4th quarter valued at $43,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Twist Bioscience during the fourth quarter worth $58,000.

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.