Guggenheim Begins Coverage on Twist Bioscience (NASDAQ:TWST)

Guggenheim initiated coverage on shares of Twist Bioscience (NASDAQ:TWST) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $53.00 target price on the stock.

TWST has been the topic of several other reports. Robert W. Baird upped their price target on Twist Bioscience from $39.00 to $40.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Barclays lifted their target price on Twist Bioscience from $40.00 to $45.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Scotiabank lifted their price target on Twist Bioscience from $43.00 to $48.00 and gave the company a sector outperform rating in a report on Monday, May 6th. Finally, Evercore ISI upped their price target on Twist Bioscience from $46.00 to $50.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Twist Bioscience has an average rating of Buy and a consensus target price of $44.00.

Twist Bioscience Price Performance

NASDAQ TWST opened at $50.46 on Tuesday. Twist Bioscience has a 12 month low of $14.42 and a 12 month high of $54.13. The company has a 50-day moving average of $37.99 and a 200-day moving average of $35.51. The company has a market cap of $2.94 billion, a P/E ratio of -15.02 and a beta of 1.78.

Twist Bioscience (NASDAQ:TWST) last posted its earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.05. The firm had revenue of $75.30 million during the quarter, compared to the consensus estimate of $70.70 million. Twist Bioscience had a negative net margin of 69.24% and a negative return on equity of 31.61%. The company’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.06) EPS. As a group, equities research analysts anticipate that Twist Bioscience will post -3.08 EPS for the current year.

Insiders Place Their Bets

In other Twist Bioscience news, SVP Paula Green sold 910 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $37.13, for a total value of $33,788.30. Following the transaction, the senior vice president now owns 91,511 shares of the company’s stock, valued at $3,397,803.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Paula Green sold 910 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $37.13, for a total transaction of $33,788.30. Following the transaction, the senior vice president now owns 91,511 shares of the company’s stock, valued at $3,397,803.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Banyai sold 798 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $37.13, for a total value of $29,629.74. Following the transaction, the insider now directly owns 345,188 shares in the company, valued at approximately $12,816,830.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,875 shares of company stock valued at $519,432. 3.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Twist Bioscience

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG lifted its stake in Twist Bioscience by 106.4% in the fourth quarter. UBS Group AG now owns 213,467 shares of the company’s stock valued at $7,868,000 after buying an additional 110,036 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in shares of Twist Bioscience by 2.9% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,583,443 shares of the company’s stock worth $131,835,000 after acquiring an additional 99,511 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Twist Bioscience by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 442,504 shares of the company’s stock worth $8,965,000 after acquiring an additional 14,511 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Twist Bioscience by 111.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,723,305 shares of the company’s stock worth $137,241,000 after acquiring an additional 1,961,621 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Twist Bioscience by 559.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 106,572 shares of the company’s stock worth $2,159,000 after acquiring an additional 90,413 shares in the last quarter.

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.