Twist Bioscience (NASDAQ:TWST) Trading 8% Higher – Here’s What Happened

Twist Bioscience Co. (NASDAQ:TWST)’s share price was up 8% on Friday . The company traded as high as $47.37 and last traded at $47.13. Approximately 370,973 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 938,184 shares. The stock had previously closed at $43.62.

Wall Street Analyst Weigh In

TWST has been the topic of several recent research reports. Robert W. Baird increased their target price on Twist Bioscience from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Wolfe Research began coverage on shares of Twist Bioscience in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. Scotiabank increased their price objective on Twist Bioscience from $50.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 19th. Evercore ISI upped their target price on Twist Bioscience from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, TD Cowen reiterated a “buy” rating and set a $58.00 price target on shares of Twist Bioscience in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Twist Bioscience has a consensus rating of “Moderate Buy” and an average price target of $51.90.

Twist Bioscience Price Performance

The company has a 50 day simple moving average of $45.35 and a 200-day simple moving average of $46.79. The firm has a market cap of $2.85 billion, a PE ratio of -13.32 and a beta of 1.82.

Insider Activity

In other Twist Bioscience news, CAO Robert F. Werner sold 1,448 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $44.60, for a total value of $64,580.80. Following the completion of the sale, the chief accounting officer now owns 45,620 shares in the company, valued at approximately $2,034,652. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Cho sold 659 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $41.56, for a total transaction of $27,388.04. Following the completion of the transaction, the insider now owns 94,481 shares in the company, valued at $3,926,630.36. This represents a 0.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,659 shares of company stock valued at $4,484,602. Corporate insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

Several institutional investors have recently added to or reduced their stakes in TWST. Wilmington Savings Fund Society FSB bought a new position in shares of Twist Bioscience during the third quarter valued at about $34,000. Signaturefd LLC raised its position in Twist Bioscience by 63.0% during the 3rd quarter. Signaturefd LLC now owns 792 shares of the company’s stock valued at $36,000 after purchasing an additional 306 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Twist Bioscience in the 2nd quarter worth approximately $61,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Twist Bioscience in the 3rd quarter worth approximately $95,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Twist Bioscience by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,119 shares of the company’s stock worth $98,000 after buying an additional 381 shares during the last quarter.

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.