Twist Bioscience (NASDAQ:TWST) Given New $54.00 Price Target at Scotiabank

Twist Bioscience (NASDAQ:TWST) had its target price lifted by Scotiabank from $50.00 to $54.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

A number of other equities research analysts also recently issued reports on TWST. Robert W. Baird increased their price objective on Twist Bioscience from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. upped 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. Leerink Partners lifted their target price 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. Barclays dropped their price target on shares of Twist Bioscience from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, Evercore ISI boosted their price objective on shares of Twist Bioscience from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.78.

Twist Bioscience Price Performance

Shares of TWST stock opened at $41.32 on Tuesday. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -10.82 and a beta of 1.78. The company’s fifty day simple moving average is $43.99 and its two-hundred day simple moving average is $46.18. Twist Bioscience has a 1 year low of $23.00 and a 1 year high of $60.90.

Insider Activity

In other Twist Bioscience news, CFO Adam Laponis sold 856 shares of the 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 transaction, the chief financial officer now owns 73,397 shares in the company, valued at $3,068,728.57. This trade represents 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 through this link. Also, CEO Emily M. Leproust sold 14,334 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $44.60, for a total transaction of $639,296.40. Following the completion of the transaction, the chief executive officer now directly owns 589,552 shares of the company’s stock, valued at approximately $26,294,019.20. The trade was a 2.37 % 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 worth $4,391,151 over the last quarter. Insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Twist Bioscience

Institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans bought a new stake in Twist Bioscience during the 3rd quarter valued at about $43,992,000. Point72 Asset Management L.P. increased its position in shares of Twist Bioscience by 1,021.8% during the second quarter. Point72 Asset Management L.P. now owns 673,057 shares of the company’s stock worth $33,168,000 after acquiring an additional 613,057 shares during the period. Fred Alger Management LLC raised its stake in shares of Twist Bioscience by 720.7% during the second quarter. Fred Alger Management LLC now owns 654,877 shares of the company’s stock valued at $32,272,000 after acquiring an additional 575,080 shares in the last quarter. State Street Corp boosted its holdings in shares of Twist Bioscience by 19.9% in the third quarter. State Street Corp now owns 3,167,353 shares of the company’s stock valued at $143,101,000 after purchasing an additional 526,028 shares during the period. Finally, Wellington Management Group LLP grew its stake in Twist Bioscience by 188.5% in the third quarter. Wellington Management Group LLP now owns 797,737 shares of the company’s stock worth $36,042,000 after purchasing an additional 521,272 shares in the last quarter.

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.