Twist Bioscience (NASDAQ:TWST) Announces Earnings Results

Twist Bioscience (NASDAQ:TWST) announced its earnings results on Friday. The company reported ($1.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.71), Briefing.com reports. The company had revenue of $81.50 million during the quarter, compared to the consensus estimate of $77.40 million. Twist Bioscience had a negative return on equity of 31.61% and a negative net margin of 69.24%. The company’s revenue was up 27.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.01) earnings per share. Twist Bioscience updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Twist Bioscience Trading Up 5.5 %

Shares of NASDAQ:TWST traded up $2.36 on Monday, reaching $45.33. The company had a trading volume of 2,115,897 shares, compared to its average volume of 1,052,242. The firm has a market capitalization of $2.64 billion, a PE ratio of -13.46 and a beta of 1.80. The firm’s 50 day simple moving average is $50.58 and its 200-day simple moving average is $41.41. Twist Bioscience has a 52-week low of $14.42 and a 52-week high of $60.90.

Insider Transactions at Twist Bioscience

In related news, CEO Emily M. Leproust sold 2,408 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $51.33, for a total transaction of $123,602.64. Following the sale, the chief executive officer now directly owns 507,578 shares of the company’s stock, valued at $26,053,978.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Twist Bioscience news, SVP Paula Green sold 918 shares of Twist Bioscience stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $51.33, for a total transaction of $47,120.94. Following the completion of the sale, the senior vice president now directly owns 90,593 shares in the company, valued at $4,650,138.69. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Emily M. Leproust sold 2,408 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $51.33, for a total transaction of $123,602.64. Following the completion of the sale, the chief executive officer now directly owns 507,578 shares in the company, valued at $26,053,978.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,289 shares of company stock valued at $577,943. Corporate insiders own 3.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TWST. JPMorgan Chase & Co. lifted their price objective on shares of Twist Bioscience from $28.00 to $35.00 and gave the stock an “underweight” rating in a research report on Monday. Scotiabank increased their price objective on shares of Twist Bioscience from $43.00 to $48.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 6th. Guggenheim initiated coverage on shares of Twist Bioscience in a research report on Tuesday, June 4th. They issued a “buy” rating and a $53.00 price target for the company. Evercore ISI boosted their price objective on Twist Bioscience from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Barclays boosted their target price on shares of Twist Bioscience from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Twist Bioscience presently has an average rating of “Moderate Buy” and an average target price of $48.78.

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.