Twist Bioscience (NASDAQ:TWST) Announces Quarterly Earnings Results

Twist Bioscience (NASDAQ:TWST) announced its quarterly earnings results on Thursday. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.05, Briefing.com reports. The company had revenue of $75.30 million during the quarter, compared to analysts’ expectations of $70.70 million. Twist Bioscience had a negative return on equity of 32.16% and a negative net margin of 78.44%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.06) earnings per share.

Twist Bioscience Stock Up 28.7 %

NASDAQ TWST traded up $9.20 during midday trading on Friday, hitting $41.21. The company had a trading volume of 4,457,624 shares, compared to its average volume of 975,484. The firm has a fifty day simple moving average of $34.03 and a two-hundred day simple moving average of $30.96. Twist Bioscience has a fifty-two week low of $11.81 and a fifty-two week high of $43.21. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -11.42 and a beta of 1.64.

Insider Activity

In related news, CEO Emily M. Leproust sold 1,487 shares of Twist Bioscience stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $37.43, for a total transaction of $55,658.41. Following the sale, the chief executive officer now directly owns 516,409 shares of the company’s stock, valued at $19,329,188.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Emily M. Leproust sold 1,487 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $37.43, for a total value of $55,658.41. Following the completion of the transaction, the chief executive officer now directly owns 516,409 shares in the company, valued at $19,329,188.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick John Finn sold 2,174 shares of Twist Bioscience stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $30.12, for a total transaction of $65,480.88. Following the sale, the chief operating officer now owns 176,206 shares in the company, valued at approximately $5,307,324.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,211 shares of company stock valued at $449,573. Insiders own 3.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TWST shares. Robert W. Baird upped their target price on Twist Bioscience from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays raised their target price on shares of Twist Bioscience from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group raised shares of Twist Bioscience from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $45.00 in a research report on Wednesday, January 17th. Scotiabank raised their price target on Twist Bioscience from $30.00 to $43.00 and gave the company a “sector outperform” rating in a research report on Monday, February 5th. Finally, Evercore ISI lifted their price objective on Twist Bioscience from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $41.67.

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.