Twist Bioscience (NASDAQ:TWST) Shares Up 10.2% – Here’s Why

Twist Bioscience Co. (NASDAQ:TWST) shares shot up 10.2% on Monday . The stock traded as high as $47.17 and last traded at $46.55. 399,057 shares changed hands during trading, a decline of 58% from the average session volume of 948,770 shares. The stock had previously closed at $42.23.

Analysts Set New Price Targets

Several brokerages recently weighed in on TWST. Barclays cut their price objective on shares of Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Leerink Partners lifted their price target on shares of Twist Bioscience from $45.00 to $48.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. Scotiabank boosted their target price on shares of Twist Bioscience from $50.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 19th. TD Cowen restated a “buy” rating and issued a $58.00 price objective on shares of Twist Bioscience in a research report on Tuesday. Finally, Evercore ISI lifted their price target on shares of Twist Bioscience from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Twist Bioscience has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Twist Bioscience Trading Up 4.3 %

The firm’s 50-day moving average is $43.75 and its 200-day moving average is $46.20. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -13.21 and a beta of 1.78.

Insider Buying and Selling at Twist Bioscience

In related news, insider Dennis Cho sold 1,507 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $48.00, for a total value of $72,336.00. Following the completion of the sale, the insider now owns 91,163 shares in the company, valued at $4,375,824. The trade was a 1.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Paula Green sold 3,310 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $43.21, for a total value of $143,025.10. Following the completion of the sale, the senior vice president now owns 84,585 shares of the company’s stock, valued at $3,654,917.85. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,118 shares of company stock valued at $4,391,151 in the last quarter. 3.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Twist Bioscience

Institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. increased its holdings in Twist Bioscience by 0.8% during the first quarter. American International Group Inc. now owns 28,506 shares of the company’s stock valued at $978,000 after buying an additional 213 shares during the last quarter. Caprock Group LLC lifted its position in Twist Bioscience by 2.9% during the second quarter. Caprock Group LLC now owns 7,851 shares of the company’s stock valued at $387,000 after purchasing an additional 220 shares during the last quarter. Signaturefd LLC raised its stake in shares of Twist Bioscience by 63.0% in the third quarter. Signaturefd LLC now owns 792 shares of the company’s stock valued at $36,000 after acquiring an additional 306 shares during the period. Arizona State Retirement System raised its stake in shares of Twist Bioscience by 1.9% in the second quarter. Arizona State Retirement System now owns 16,187 shares of the company’s stock valued at $798,000 after acquiring an additional 308 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Twist Bioscience by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,279 shares of the company’s stock valued at $457,000 after acquiring an additional 312 shares during the period.

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.