Twist Bioscience (NASDAQ:TWST – Get Rating) announced its quarterly earnings data on Friday. The company reported ($1.08) EPS for the quarter, beating analysts’ consensus estimates of ($1.31) by $0.23, Briefing.com reports. The firm had revenue of $56.10 million for the quarter, compared to analyst estimates of $52.06 million. Twist Bioscience had a negative return on equity of 28.88% and a negative net margin of 114.96%. The business’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same period last year, the company earned ($0.82) EPS. Twist Bioscience updated its FY 2022 guidance to EPS.
Twist Bioscience Price Performance
Shares of TWST traded up $5.94 during midday trading on Friday, hitting $52.77. The stock had a trading volume of 1,934,386 shares, compared to its average volume of 970,786. The company has a 50 day simple moving average of $37.88 and a two-hundred day simple moving average of $43.02. Twist Bioscience has a twelve month low of $25.07 and a twelve month high of $139.99. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -13.33 and a beta of 1.19.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on TWST shares. Barclays increased their price target on Twist Bioscience from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. The Goldman Sachs Group cut their price target on Twist Bioscience from $105.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 13th. Finally, Robert W. Baird cut their price target on Twist Bioscience from $70.00 to $43.00 in a research note on Friday, May 6th.
Insider Buying and Selling at Twist Bioscience
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In other Twist Bioscience news, insider William Banyai sold 1,275 shares of Twist Bioscience stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $37.04, for a total value of $47,226.00. Following the sale, the insider now owns 259,926 shares of the company’s stock, valued at approximately $9,627,659.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider William Banyai sold 1,275 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $37.04, for a total value of $47,226.00. Following the completion of the transaction, the insider now owns 259,926 shares in the company, valued at approximately $9,627,659.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James M. Thorburn sold 6,620 shares of the firm’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $36.02, for a total value of $238,452.40. Following the completion of the transaction, the chief financial officer now owns 45,386 shares of the company’s stock, valued at approximately $1,634,803.72. The disclosure for this sale can be found here. Insiders have sold 19,581 shares of company stock valued at $654,504 in the last 90 days. 3.10% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Twist Bioscience
A number of hedge funds and other institutional investors have recently made changes to their positions in TWST. Canada Pension Plan Investment Board raised its position in Twist Bioscience by 155.6% during the first quarter. Canada Pension Plan Investment Board now owns 1,066 shares of the company’s stock valued at $52,000 after purchasing an additional 649 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Twist Bioscience by 73.4% during the first quarter. Lazard Asset Management LLC now owns 1,597 shares of the company’s stock worth $78,000 after buying an additional 676 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Twist Bioscience by 16.0% during the first quarter. Ameritas Investment Partners Inc. now owns 4,293 shares of the company’s stock worth $212,000 after buying an additional 591 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Twist Bioscience by 81.7% during the first quarter. Envestnet Asset Management Inc. now owns 5,900 shares of the company’s stock worth $291,000 after buying an additional 2,653 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Twist Bioscience by 11.8% during the first quarter. US Bancorp DE now owns 5,942 shares of the company’s stock worth $295,000 after buying an additional 626 shares during the last quarter.
Twist Bioscience Company Profile
Twist Bioscience Corporation, a synthetic biology company, manufactures and sells synthetic DNA-based products. The company’s DNA synthesis platform enables the manufacturing of synthetic DNA by writing DNA on a silicon chip. It offers synthetic DNA-based products, including synthetic genes, tools for sample preparation, antibody libraries for drug discovery and development, and DNA as a digital data storage medium.
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Read More: Twist Bioscience (NASDAQ:TWST) Announces Earnings Results