Twist Bioscience (NASDAQ:TWST) Posts Earnings Results, Beats Expectations By $0.05 EPS

Twist Bioscience (NASDAQ:TWST) announced its earnings results on Thursday. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.05, Briefing.com reports. The firm had revenue of $75.30 million for the quarter, compared to analyst estimates of $70.70 million. Twist Bioscience had a negative return on equity of 32.16% and a negative net margin of 78.44%. The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the firm posted ($1.06) EPS.

Twist Bioscience Stock Up 28.7 %

NASDAQ:TWST traded up $9.20 on Friday, reaching $41.21. The company’s stock had a trading volume of 4,457,624 shares, compared to its average volume of 975,484. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -11.42 and a beta of 1.64. Twist Bioscience has a 12-month low of $11.81 and a 12-month high of $43.21. The stock has a 50 day moving average price of $34.03 and a 200 day moving average price of $30.96.

Analyst Ratings Changes

Several analysts have recently issued reports on TWST shares. Barclays lifted their target price on shares of Twist Bioscience from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group upgraded Twist Bioscience from a “neutral” rating to a “buy” rating and raised their target price for the company from $25.00 to $45.00 in a research report on Wednesday, January 17th. Robert W. Baird lifted their price target on Twist Bioscience from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday. Evercore ISI increased their price objective on shares of Twist Bioscience from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Friday. Finally, Scotiabank boosted their price objective on Twist Bioscience from $30.00 to $43.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $41.67.

Insider Activity at Twist Bioscience

In other news, CEO Emily M. Leproust sold 1,128 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $33.52, for a total value of $37,810.56. Following the transaction, the chief executive officer now directly owns 515,281 shares in the company, valued at approximately $17,272,219.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Emily M. Leproust sold 1,128 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $33.52, for a total value of $37,810.56. Following the sale, the chief executive officer now owns 515,281 shares in the company, valued at approximately $17,272,219.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Chess sold 4,110 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $34.98, for a total value of $143,767.80. Following the transaction, the director now owns 64,169 shares of the company’s stock, valued at $2,244,631.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,211 shares of company stock worth $449,573. Company insiders own 3.92% of the company’s stock.

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.