Twist Bioscience (NASDAQ:TWST) Stock Price Down 7.4% – Here’s Why

Twist Bioscience Corporation (NASDAQ:TWST)’s stock price fell 7.4% on Friday. The company traded as low as $134.83 and last traded at $133.8060. 180,478 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,711,585 shares. The stock had previously closed at $144.49.

Analyst Upgrades and Downgrades

TWST has been the topic of several recent research reports. Jefferies Financial Group started coverage on shares of Twist Bioscience in a report on Thursday, October 8th. They set a “hold” rating and a $150.00 target price on the stock. UBS Group began coverage on shares of Twist Bioscience in a report on Wednesday, September 9th. They issued a “neutral” rating and a $144.00 price target for the company. BWS Financial reaffirmed a “sell” rating and issued a $45.00 price target on shares of Twist Bioscience in a research report on Friday, September 18th. Guggenheim increased their price objective on shares of Twist Bioscience from $107.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Finally, Piper Sandler increased their price objective on shares of Twist Bioscience from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $143.67.

Twist Bioscience Trading Down 8.1%

The stock has a market capitalization of $8.33 billion, a P/E ratio of -59.94 and a beta of 2.19. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $147.75 and a 200 day moving average price of $99.64.

Twist Bioscience (NASDAQ:TWST) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.05). Twist Bioscience had a negative return on equity of 28.64% and a negative net margin of 31.66%. The company had revenue of $118.38 million for the quarter, compared to analysts’ expectations of $114.55 million. During the same quarter last year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, research analysts forecast that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Adam Laponis sold 8,057 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $188.88, for a total value of $1,521,806.16. Following the sale, the chief financial officer directly owned 100,576 shares in the company, valued at approximately $18,996,794.88. This trade represents a 7.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paula Green sold 10,088 shares of Twist Bioscience stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $188.88, for a total transaction of $1,905,421.44. Following the completion of the transaction, the senior vice president directly owned 106,632 shares in the company, valued at approximately $20,140,652.16. The trade was a 8.64% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 601,920 shares of company stock valued at $93,768,202. Company insiders own 3.08% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

Hedge funds and other institutional investors have recently bought and sold shares of the company. Triasima Portfolio Management inc. acquired a new position in shares of Twist Bioscience during the third quarter worth $652,000. Sivik Global Healthcare LLC purchased a new stake in shares of Twist Bioscience during the 3rd quarter valued at $218,000. Fermata Advisors LLC purchased a new stake in shares of Twist Bioscience during the 3rd quarter valued at $243,000. GAMMA Investing LLC lifted its holdings in shares of Twist Bioscience by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,327 shares of the company’s stock valued at $256,000 after purchasing an additional 384 shares during the last quarter. Finally, Veracity Capital LLC acquired a new stake in shares of Twist Bioscience in the 3rd quarter worth $726,000.

Twist Bioscience Company Profile

Twist Bioscience Corporation (NASDAQ:TWST) is a biotechnology company that develops and manufactures synthetic DNA using a silicon-based production platform. Its technology is designed to enable the precise, high-throughput synthesis of DNA at smaller scale and with potentially lower material consumption than traditional methods.

The company provides synthetic DNA products and services for applications in drug discovery and development, biotechnology research, agriculture, industrial chemicals and other life sciences markets.