Twist Bioscience (NASDAQ:TWST) Stock Price Down 5.6%

Twist Bioscience Co. (NASDAQ:TWST)’s share price was down 5.6% during trading on Friday . The company traded as low as $37.73 and last traded at $37.77. Approximately 187,101 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,007,398 shares. The stock had previously closed at $40.02.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TWST shares. The Goldman Sachs Group lifted their price objective on Twist Bioscience from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. TD Cowen boosted their price target on Twist Bioscience from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Barclays dropped their price target on Twist Bioscience from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on Twist Bioscience from $28.00 to $35.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Finally, Robert W. Baird boosted their price target on Twist Bioscience from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Twist Bioscience has an average rating of “Moderate Buy” and an average target price of $48.22.

Twist Bioscience Price Performance

The stock has a market cap of $2.19 billion, a P/E ratio of -11.24 and a beta of 1.76. The company has a fifty day moving average price of $48.47 and a 200 day moving average price of $42.64.

Twist Bioscience (NASDAQ:TWST) last released its quarterly earnings data on Friday, August 2nd. The company reported ($1.47) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.71). The firm had revenue of $81.50 million for the quarter, compared to the consensus estimate of $77.40 million. Twist Bioscience had a negative net margin of 74.63% and a negative return on equity of 32.17%. The company’s revenue was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.01) EPS. As a group, sell-side analysts expect that Twist Bioscience Co. will post -3.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Adam Laponis sold 842 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $48.91, for a total transaction of $41,182.22. Following the completion of the sale, the chief financial officer now owns 73,602 shares in the company, valued at $3,599,873.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Adam Laponis sold 842 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $48.91, for a total transaction of $41,182.22. Following the completion of the sale, the chief financial officer now owns 73,602 shares in the company, valued at $3,599,873.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Emily M. Leproust sold 1,732 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $49.41, for a total value of $85,578.12. Following the sale, the chief executive officer now owns 505,846 shares of the company’s stock, valued at approximately $24,993,850.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,483 shares of company stock worth $781,448. 3.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EdgeRock Capital LLC bought a new position in Twist Bioscience in the 2nd quarter valued at $43,000. Blue Trust Inc. grew its stake in Twist Bioscience by 2,912.8% in the 2nd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $58,000 after purchasing an additional 1,136 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Twist Bioscience in the 2nd quarter valued at $61,000. Nisa Investment Advisors LLC grew its stake in Twist Bioscience by 31.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,288 shares of the company’s stock valued at $113,000 after purchasing an additional 546 shares during the period. Finally, CWM LLC grew its stake in Twist Bioscience by 27.4% in the 2nd quarter. CWM LLC now owns 2,437 shares of the company’s stock valued at $120,000 after purchasing an additional 524 shares during the period.

About Twist Bioscience

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.