Twist Bioscience (NASDAQ:TWST) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Twist Bioscience Corporation (NASDAQ:TWST)’s share price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $151.01 and traded as high as $162.61. Twist Bioscience shares last traded at $159.85, with a volume of 1,755,741 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Leerink Partners raised their target price on shares of Twist Bioscience from $160.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. Jefferies Financial Group initiated coverage on shares of Twist Bioscience in a report on Thursday, October 8th. They issued a “hold” rating and a $150.00 price target on the stock. Piper Sandler increased their price target on shares of Twist Bioscience from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Canaccord Genuity Group raised their price objective on shares of Twist Bioscience from $120.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, Evercore downgraded shares of Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price objective for the company. in a report on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $143.67.

Twist Bioscience Stock Performance

The firm has a market cap of $10.88 billion, a PE ratio of -78.13 and a beta of 2.19. The firm has a fifty day simple moving average of $152.78 and a two-hundred day simple moving average of $88.26. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03.

Twist Bioscience (NASDAQ:TWST) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.56) EPS 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 business had revenue of $118.38 million during the quarter, compared to analysts’ expectations of $114.55 million. During the same period in the previous year, the business earned $0.33 EPS. The business’s revenue was up 23.2% compared to the same quarter last year. Equities analysts forecast that Twist Bioscience Corporation will post -2.12 EPS for the current year.

Insider Buying and Selling at Twist Bioscience

In other Twist Bioscience news, CEO Emily M. Leproust sold 356,546 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $157.99, for a total value of $56,330,702.54. Following the sale, the chief executive officer owned 620,589 shares in the company, valued at approximately $98,046,856.11. This represents a 36.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dennis Cho sold 9,514 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $188.88, for a total value of $1,797,004.32. Following the completion of the sale, the insider owned 63,789 shares in the company, valued at $12,048,466.32. The trade was a 12.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 601,920 shares of company stock valued at $93,768,202. Insiders own 3.08% of the company’s stock.

Hedge Funds Weigh In On Twist Bioscience

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Twist Bioscience during the 2nd quarter valued at about $600,191,000. William Blair Investment Management LLC purchased a new position in Twist Bioscience in the second quarter worth about $223,722,000. Bank of America Corp DE bought a new position in shares of Twist Bioscience in the second quarter worth approximately $94,922,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Twist Bioscience during the first quarter valued at approximately $22,563,000. Finally, Sei Investments Co. grew its holdings in shares of Twist Bioscience by 31.2% during the first quarter. Sei Investments Co. now owns 354,420 shares of the company’s stock valued at $16,842,000 after buying an additional 84,321 shares during the last quarter.

About Twist Bioscience

Twist Bioscience Corporation is a biotechnology company that develops and manufactures synthetic DNA and related products for life sciences research. The company uses a proprietary silicon-based platform to produce high-quality DNA at scale, supporting applications in synthetic biology, drug discovery and development, agriculture, and academic and industrial research.

Its offerings include synthetic genes, oligonucleotides, gene fragments, variant libraries, and antibody discovery products.