Twist Bioscience Corporation (NASDAQ: TWST) stock fell -4.73% on Friday to $20.95 against a previous-day closing price of $21.99. With 2.34 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.07 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $22.12 whereas the lowest price it dropped to was $20.80. The 52-week range on TWST shows that it touched its highest point at $41.87 and its lowest point at $11.46 during that stretch. It currently has a 1-year price target of $25.78. Beta for the stock currently stands at 1.27.
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 -6.56%, but this was up by 8.49% over a month. Three-month performance surged to 12.57% while six-month performance rose 24.85%. The stock lost -47.03% in the past year, while it has lost -12.01% so far this year. A look at the trailing 12-month EPS for TWST yields -3.69 with Next year EPS estimates of -2.95. For the next quarter, that number is -0.92. This implies an EPS growth rate of -28.30% for this year and 20.90% for next year.
Float and Shares Shorts:
At present, 57.04 million TWST shares are outstanding with a float of 56.48 million shares on hand for trading. On Aug 30, 2023, short shares totaled 14.18 million, which was 24.70% higher than short shares on Jul 30, 2023. In addition to Dr. Emily Marine Leproust Ph.D. as the firm’s Co-Founder, Chairman & CEO, Dr. Patrick John Finn Ph.D. serves as its Pres & COO.
Through their ownership of 108.82% of TWST’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 71.75% of TWST, in contrast to 41.94% held by mutual funds. Shares owned by individuals account for 13.99%. As the largest shareholder in TWST with 12.13% of the stake, ARK Investment Management LLC holds 6,959,240 shares worth 6,959,240. A second-largest stockholder of TWST, The Vanguard Group, Inc., holds 5,788,011 shares, controlling over 10.08% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TWST, holding 4,956,788 shares or 8.64% stake. With a 6.25% stake in TWST, the ARK Innovation ETF is the largest stakeholder. A total of 3,589,144 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 6.23% of TWST stock, is the second-largest Mutual Fund holder. It holds 3,576,800 shares valued at 78.65 million. ARK Genomic Revolution ETF holds 5.03% of the stake in TWST, owning 2,887,963 shares worth 63.51 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, TWST reported revenue of $56.11M and operating income of -$65.39M. The EBITDA in the recently reported quarter was -$64.90M and diluted EPS was -$1.08.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TWST since 0 analysts follow the stock currently. 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 $33.00 and a low target of $19.00, the average target price over the next 12 months is $26.25. Based on these targets, TWST could surge 57.52% to reach the target high and fall by -9.31% to reach the target low. Reaching the average price target will result in a growth of 25.3% 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.
Summary of Insider Activity:
Insiders traded TWST stock several times over the past three months with 0 Buys and 17 Sells. In these transactions, 0 shares were bought while 12,459 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 102 over the past year. The total number of shares bought during that period was 329,110 while 58,375 shares were sold.