Twist Bioscience (NASDAQ:TWST) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Twist Bioscience (NASDAQ:TWST) posted its quarterly earnings results on Friday. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.11, MarketWatch Earnings reports. Twist Bioscience had a negative net margin of 88.97% and a negative return on equity of 29.09%. The business had revenue of $66.95 million during the quarter, compared to analyst estimates of $63.35 million. During the same quarter in the previous year, the business posted ($0.91) EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year.

Twist Bioscience Stock Performance

NASDAQ:TWST opened at $23.60 on Friday. The company has a fifty day moving average of $18.65 and a two-hundred day moving average of $18.94. The stock has a market capitalization of $1.35 billion, a PE ratio of -6.08 and a beta of 1.32. Twist Bioscience has a fifty-two week low of $11.46 and a fifty-two week high of $31.51.

Hedge Funds Weigh In On Twist Bioscience

A number of large investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its position in Twist Bioscience by 22.7% during the third quarter. Morgan Stanley now owns 1,117,737 shares of the company’s stock worth $22,645,000 after acquiring an additional 206,748 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Twist Bioscience by 109.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 22,300 shares of the company’s stock valued at $452,000 after buying an additional 11,655 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Twist Bioscience by 11.5% in the third quarter. The Manufacturers Life Insurance Company now owns 53,591 shares of the company’s stock valued at $1,086,000 after buying an additional 5,527 shares during the last quarter. Royal Bank of Canada raised its position in shares of Twist Bioscience by 24.3% in the third quarter. Royal Bank of Canada now owns 18,861 shares of the company’s stock valued at $382,000 after buying an additional 3,690 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Twist Bioscience by 1.0% in the third quarter. Northern Trust Corp now owns 554,256 shares of the company’s stock valued at $11,229,000 after buying an additional 5,472 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on TWST. Barclays boosted their target price on shares of Twist Bioscience from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Berenberg Bank initiated coverage on shares of Twist Bioscience in a report on Wednesday, September 27th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Robert W. Baird upped their price objective on shares of Twist Bioscience from $18.00 to $27.00 in a report on Monday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.43.

About Twist Bioscience

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.