Twist Bioscience (NASDAQ:TWST) PT Raised to $48.00 at Scotiabank

Twist Bioscience (NASDAQ:TWST) had its price target hoisted by Scotiabank from $43.00 to $48.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has a sector outperform rating on the stock.

Several other research firms also recently weighed in on TWST. Evercore ISI increased their target price on Twist Bioscience from $46.00 to $50.00 and gave the stock an outperform rating in a research report on Friday. The Goldman Sachs Group raised shares of Twist Bioscience from a neutral rating to a buy rating and raised their target price for the stock from $25.00 to $45.00 in a research report on Wednesday, January 17th. Robert W. Baird upped their price target on shares of Twist Bioscience from $39.00 to $40.00 and gave the stock an outperform rating in a research report on Friday. Finally, Barclays lifted their price target on shares of Twist Bioscience from $40.00 to $45.00 and gave the company an overweight rating in a report on Friday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $42.50.

Twist Bioscience Price Performance

NASDAQ:TWST opened at $44.67 on Monday. The firm has a market cap of $2.60 billion, a PE ratio of -13.29 and a beta of 1.64. The firm has a 50 day simple moving average of $34.11 and a 200-day simple moving average of $31.34. Twist Bioscience has a 1-year low of $11.81 and a 1-year high of $44.90.

Twist Bioscience (NASDAQ:TWST) last released its earnings results on Thursday, May 2nd. The company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.05. Twist Bioscience had a negative net margin of 69.24% and a negative return on equity of 31.61%. The firm had revenue of $75.30 million during the quarter, compared to analysts’ expectations of $70.70 million. During the same period in the previous year, the company earned ($1.06) EPS. Twist Bioscience’s revenue for the quarter was up 25.1% on a year-over-year basis. As a group, sell-side analysts expect that Twist Bioscience will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Twist Bioscience

In other news, Director Robert Chess sold 4,110 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $34.98, for a total value of $143,767.80. Following the completion of the sale, the director now owns 64,169 shares of the company’s stock, valued at $2,244,631.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert Chess sold 4,110 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $34.98, for a total value of $143,767.80. Following the completion of the sale, the director now owns 64,169 shares of the company’s stock, valued at $2,244,631.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick John Finn sold 2,174 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $30.12, for a total value of $65,480.88. Following the sale, the chief operating officer now owns 176,206 shares in the company, valued at $5,307,324.72. The disclosure for this sale can be found here. Insiders have sold a total of 13,211 shares of company stock valued at $449,573 over the last ninety days. Corporate insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Twist Bioscience by 23.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,617 shares of the company’s stock worth $316,000 after acquiring an additional 2,933 shares during the last quarter. Strs Ohio increased its holdings in Twist Bioscience by 6.5% during the 3rd quarter. Strs Ohio now owns 27,900 shares of the company’s stock worth $565,000 after purchasing an additional 1,700 shares during the last quarter. Rockland Trust Co. raised its position in shares of Twist Bioscience by 29.7% in the 3rd quarter. Rockland Trust Co. now owns 38,500 shares of the company’s stock valued at $780,000 after purchasing an additional 8,808 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Twist Bioscience by 137.7% during the 3rd quarter. TD Asset Management Inc now owns 73,148 shares of the company’s stock valued at $1,482,000 after buying an additional 42,374 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Twist Bioscience by 51.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,453 shares of the company’s stock worth $70,000 after buying an additional 1,179 shares in the last quarter.

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.