Twist Bioscience (NASDAQ:TWST) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Twist Bioscience (NASDAQ:TWST) released its quarterly earnings results on Monday. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07), FiscalAI reports. The company had revenue of $118.38 million for the quarter, compared to analysts’ expectations of $114.55 million. Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.

Twist Bioscience Price Performance

Shares of NASDAQ:TWST opened at $91.55 on Monday. Twist Bioscience has a 52 week low of $23.30 and a 52 week high of $105.47. The company has a 50-day moving average price of $84.99 and a 200 day moving average price of $62.13. The company has a market cap of $5.70 billion, a P/E ratio of -68.83 and a beta of 2.11. The company has a quick ratio of 2.42, a current ratio of 2.70 and a debt-to-equity ratio of 0.03.

Wall Street Analysts Forecast Growth

TWST has been the subject of a number of recent research reports. Canaccord Genuity Group increased their price objective on Twist Bioscience from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Barclays boosted their target price on Twist Bioscience from $65.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Robert W. Baird increased their price target on Twist Bioscience from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. TD Cowen increased their price target on Twist Bioscience from $68.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Twist Bioscience in a research report on Wednesday, June 24th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.30.

Insider Activity at Twist Bioscience

In related news, Director Jan Johannessen sold 12,000 shares of Twist Bioscience stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.12, for a total value of $673,440.00. Following the sale, the director directly owned 17,754 shares in the company, valued at $996,354.48. The trade was a 40.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dennis Cho sold 14,205 shares of Twist Bioscience stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total value of $1,274,898.75. Following the completion of the sale, the insider owned 105,141 shares in the company, valued at approximately $9,436,404.75. This trade represents a 11.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 50,211 shares of company stock worth $4,199,331 in the last three months. 3.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Twist Bioscience

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in shares of Twist Bioscience in the fourth quarter valued at about $476,000. Bridgefront Capital LLC purchased a new stake in Twist Bioscience during the third quarter worth about $379,000. Cetera Investment Advisers acquired a new position in Twist Bioscience during the fourth quarter worth about $267,000. VARCOV Co. acquired a new position in Twist Bioscience during the fourth quarter worth about $263,000. Finally, Bayesian Capital Management LP purchased a new position in Twist Bioscience in the second quarter valued at about $253,000.

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.