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

Twist Bioscience Co. (NASDAQ:TWST) shot up 10.2% during trading on Monday . The company 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

A number of analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of Twist Bioscience from $50.00 to $54.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 19th. Evercore ISI lifted their target price on shares of Twist Bioscience from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Robert W. Baird upped their target price on shares of Twist Bioscience from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. TD Cowen reissued a “buy” rating and set a $58.00 price target on shares of Twist Bioscience in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Twist Bioscience from $28.00 to $35.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Twist Bioscience Trading Up 4.3 %

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

Insider Buying and Selling

In other Twist Bioscience news, CFO Adam Laponis sold 856 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $41.81, for a total transaction of $35,789.36. Following the completion of the sale, the chief financial officer now owns 73,397 shares in the company, valued at $3,068,728.57. The trade was a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Chess sold 3,600 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $47.26, for a total transaction of $170,136.00. Following the sale, the director now owns 21,641 shares of the company’s stock, valued at approximately $1,022,753.66. The trade was a 14.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,118 shares of company stock valued at $4,391,151. Insiders own 3.92% of the company’s stock.

Hedge Funds Weigh In On Twist Bioscience

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Twist Bioscience during the 3rd quarter valued at about $34,000. Signaturefd LLC boosted its position in shares of Twist Bioscience by 63.0% during the 3rd quarter. Signaturefd LLC now owns 792 shares of the company’s stock valued at $36,000 after purchasing an additional 306 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Twist Bioscience during the 2nd quarter valued at about $43,000. Blue Trust Inc. boosted its position in shares of Twist Bioscience by 2,912.8% during the 2nd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock valued at $58,000 after purchasing an additional 1,136 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Twist Bioscience during the second quarter valued at about $61,000.

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.