Dennis Cho Sells 346 Shares of Twist Bioscience (NASDAQ:TWST) Stock

Twist Bioscience Corporation (NASDAQ:TWST) insider Dennis Cho sold 346 shares of Twist Bioscience stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $87.32, for a total value of $30,212.72. Following the completion of the transaction, the insider owned 119,346 shares of the company’s stock, valued at approximately $10,421,292.72. This trade represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dennis Cho also recently made the following trade(s):

• On Monday, June 8th, Dennis Cho sold 402 shares of Twist Bioscience stock. The shares were sold at an average price of $69.84, for a total value of $28,075.68.

Twist Bioscience Stock Up 5.8%

Shares of TWST opened at $96.65 on Friday. The company has a quick ratio of 2.42, a current ratio of 2.70 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $66.16 and a 200 day moving average of $51.10. The company has a market cap of $6.02 billion, a PE ratio of -72.67 and a beta of 2.23. Twist Bioscience Corporation has a 52-week low of $23.30 and a 52-week high of $98.40.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.22). The firm had revenue of $110.72 million for the quarter, compared to the consensus estimate of $107.64 million. Twist Bioscience had a negative net margin of 19.85% and a negative return on equity of 26.73%. The company’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.66) EPS. On average, sell-side analysts expect that Twist Bioscience Corporation will post -2.02 EPS for the current year.

Hedge Funds Weigh In On Twist Bioscience

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of Twist Bioscience by 11.8% during the first quarter. Royal Bank of Canada now owns 40,373 shares of the company’s stock worth $1,585,000 after acquiring an additional 4,254 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Twist Bioscience by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,310 shares of the company’s stock worth $2,765,000 after purchasing an additional 3,181 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Twist Bioscience by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 932,978 shares of the company’s stock worth $36,629,000 after purchasing an additional 37,577 shares during the period. Intech Investment Management LLC raised its position in Twist Bioscience by 18.9% during the 1st 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 in the last quarter. Finally, Norges Bank bought a new stake in Twist Bioscience during the 2nd quarter valued at $737,000.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Leerink Partners set a $80.00 price objective on shares of Twist Bioscience in a research report on Friday, May 22nd. TD Cowen upped their target price on Twist Bioscience from $68.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Barclays increased their price target on Twist Bioscience from $65.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler initiated coverage on Twist Bioscience in a report on Thursday, June 11th. They set an “overweight” rating and a $85.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Twist Bioscience in a research report on Friday, March 27th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.60.

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.