Twist Bioscience (NASDAQ:TWST) Shares Gap Up – What’s Next?

Twist Bioscience Co. (NASDAQ:TWST)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $36.89, but opened at $44.00. Twist Bioscience shares last traded at $40.70, with a volume of 398,303 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TWST shares. Barclays decreased their price target on shares of Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday. Evercore ISI lifted their target price on Twist Bioscience from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on Twist Bioscience from $28.00 to $35.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Scotiabank boosted their price objective on Twist Bioscience from $50.00 to $54.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Finally, Robert W. Baird upped their price objective on Twist Bioscience from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.78.

Twist Bioscience Stock Performance

The stock has a 50 day moving average of $43.99 and a two-hundred day moving average of $46.18. The firm has a market capitalization of $2.42 billion, a P/E ratio of -10.82 and a beta of 1.78.

Insider Activity

In other news, Director Robert Chess sold 3,600 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $47.26, for a total transaction of $170,136.00. Following the completion of the transaction, the director now directly owns 21,641 shares in the company, valued at $1,022,753.66. The trade was a 14.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Cho sold 1,507 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $48.00, for a total transaction of $72,336.00. Following the completion of the sale, the insider now owns 91,163 shares in the company, valued at approximately $4,375,824. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,118 shares of company stock valued at $4,391,151 over the last 90 days. 3.92% of the stock is currently owned by company insiders.

Institutional Trading of Twist Bioscience

A number of hedge funds have recently bought and sold shares of TWST. Silvercrest Asset Management Group LLC lifted its stake in shares of Twist Bioscience by 38.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 134,215 shares of the company’s stock valued at $4,605,000 after buying an additional 37,376 shares during the period. Principal Financial Group Inc. lifted its position in shares of Twist Bioscience by 210.2% in the 2nd quarter. Principal Financial Group Inc. now owns 122,911 shares of the company’s stock worth $6,057,000 after acquiring an additional 83,287 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Twist Bioscience during the 1st quarter worth approximately $389,000. Price T Rowe Associates Inc. MD increased its position in shares of Twist Bioscience by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,127 shares of the company’s stock valued at $1,103,000 after purchasing an additional 2,292 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Twist Bioscience in the second quarter valued at $402,000.

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.