Twist Bioscience (NASDAQ:TWST) Posts Earnings Results, Misses Estimates By $0.07 EPS

Twist Bioscience (NASDAQ:TWST) announced its earnings results on Monday. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.07), FiscalAI reports. The firm had revenue of $118.38 million during the quarter, compared to analysts’ expectations of $114.55 million. Twist Bioscience had a negative net margin of 19.85% and a negative return on equity of 26.73%.

Twist Bioscience Stock Performance

NASDAQ TWST opened at $91.55 on Monday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of -68.83 and a beta of 2.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 2.42. Twist Bioscience has a 12 month low of $23.30 and a 12 month high of $105.47. The company’s fifty day moving average price is $84.99 and its two-hundred day moving average price is $62.13.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of Twist Bioscience in a research note on Thursday, June 11th. They set an “overweight” rating and a $85.00 price target on the stock. TD Cowen lifted their target price on Twist Bioscience from $68.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Canaccord Genuity Group boosted their price target on Twist Bioscience from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Twist Bioscience in a report on Wednesday, June 24th. Finally, Leerink Partners set a $110.00 price objective on Twist Bioscience in a research note on Thursday, July 16th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.30.

Insider Buying and Selling

In related news, SVP Paula Green sold 291 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $87.32, for a total value of $25,410.12. Following the completion of the sale, the senior vice president directly owned 120,414 shares of the company’s stock, valued at $10,514,550.48. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dennis Cho sold 14,205 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total value of $1,274,898.75. Following the sale, the insider owned 105,141 shares in the company, valued at $9,436,404.75. The trade was a 11.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 50,211 shares of company stock worth $4,199,331. 3.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Twist Bioscience

Institutional investors and hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in Twist Bioscience by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 7,559,495 shares of the company’s stock worth $239,787,000 after purchasing an additional 832,687 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Twist Bioscience by 31.7% during the fourth quarter. EdgePoint Investment Group Inc. now owns 5,377,991 shares of the company’s stock worth $170,590,000 after purchasing an additional 1,295,672 shares during the period. State Street Corp raised its holdings in shares of Twist Bioscience by 17.4% during the fourth quarter. State Street Corp now owns 3,627,818 shares of the company’s stock worth $115,074,000 after purchasing an additional 538,755 shares during the period. Millennium Management LLC lifted its position in shares of Twist Bioscience by 151.5% in the 3rd quarter. Millennium Management LLC now owns 1,793,850 shares of the company’s stock worth $50,479,000 after buying an additional 1,080,722 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Twist Bioscience by 4.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,696,594 shares of the company’s stock worth $53,816,000 after buying an additional 69,574 shares during the last quarter.

Twist Bioscience Company Profile

Twist Bioscience Corporation is a synthetic biology company specializing in the development and commercialization of DNA-based products and solutions. Founded in 2013 and headquartered in South San Francisco, California, the company has pioneered a proprietary silicon-based DNA synthesis platform designed for high-throughput production of synthetic genes and oligonucleotides. Twist leverages semiconductor manufacturing techniques to enable precise, scalable synthesis of DNA at speeds and volumes unattainable with traditional methods.

At the core of Twist’s offering is its proprietary platform that automates the synthesis of custom DNA fragments, gene libraries, and long oligonucleotides.