Twist Bioscience Corporation (NASDAQ: TWST) stock fell -7.53% on Friday to $33.64 against a previous-day closing price of $36.38. With 1.05 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.03 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $35.97 whereas the lowest price it dropped to was $33.45. The 52-week range on TWST shows that it touched its highest point at $139.99 and its lowest point at $25.07 during that stretch. It currently has a 1-year price target of $50.71. Beta for the stock currently stands at 1.20.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TWST was down-trending over the past week, with a drop of -16.79%, but this was down by -19.31% over a month. Three-month performance dropped to -11.73% while six-month performance fell -28.40%. The stock lost -72.18% in the past year, while it has lost -56.53% so far this year. A look at the trailing 12-month EPS for TWST yields -3.96 with Next year EPS estimates of -4.75. For the next quarter, that number is -1.28. This implies an EPS growth rate of 11.70% for this year and -4.90% for next year.
Float and Shares Shorts:
At present, 56.29 million TWST shares are outstanding with a float of 52.49 million shares on hand for trading. On Jul 14, 2022, short shares totaled 6.66 million, which was 11.84% higher than short shares on Jun 14, 2022. In addition to Dr. Emily Marine Leproust Ph.D. as the firm’s Co-Founder, Chairman, Pres & CEO, Mr. James M. Thorburn serves as its Chief Financial Officer.
Through their ownership of 106.62% of TWST’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 65.11% of TWST, in contrast to 31.70% held by mutual funds. Shares owned by individuals account for 13.44%. As the largest shareholder in TWST with 11.12% of the stake, ARK Investment Management LLC holds 6,267,721 shares worth 6,267,721. A second-largest stockholder of TWST, The Vanguard Group, Inc., holds 4,802,352 shares, controlling over 8.52% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TWST, holding 3,983,289 shares or 7.07% stake. With a 6.77% stake in TWST, the ARK Innovation ETF is the largest stakeholder. A total of 3,813,757 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 4.68% of TWST stock, is the second-largest Mutual Fund holder. It holds 2,640,182 shares valued at 105.92 million. ARK Genomic Revolution ETF holds 4.39% of the stake in TWST, owning 2,474,389 shares worth 99.27 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TWST since 8 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TWST analysts setting a high price target of $60.00 and a low target of $35.00, the average target price over the next 12 months is $49.17. Based on these targets, TWST could surge 78.36% to reach the target high and rise by 4.04% to reach the target low. Reaching the average price target will result in a growth of 46.17% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TWST will report FY 2022 earnings on 12/21/2022. Analysts have provided yearly estimates in a range of -$4.38 being high and -$4.73 being low. For TWST, this leads to a yearly average estimate of -$4.48. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Twist Bioscience Corporation surprised analysts by $0.21 when it reported -$1.08 EPS against a consensus estimate of -$1.29. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is -$1.24 and the low estimate is -$1.40. The average estimate for the next quarter is thus -$1.30.
Summary of Insider Activity:
Insiders traded TWST stock several times over the past three months with 1 Buys and 27 Sells. In these transactions, 9,000 shares were bought while 26,304 shares were sold. The number of buy transactions has increased to 69 while that of sell transactions has risen to 189 over the past year. The total number of shares bought during that period was 301,200 while 299,943 shares were sold.