SAN FRANCISCO—Emily M. Leproust, the Chief Executive Officer of Twist Bioscience Corp (NASDAQ:TWST), recently sold 1,654 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold on December 20 at an average price of $44.903, totaling approximately $74,269. The stock, which has shown significant volatility according to InvestingPro data, is currently trading at $49.26, representing a 32.7% gain year-to-date.
The sales were conducted to cover tax withholding obligations associated with the vesting of Restricted Stock Units, as mandated by Twist Bioscience's equity incentive plans. Following the transaction, Leproust holds 673,064 shares directly in the $2.9 billion market cap company. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 4.88 and operates with moderate debt levels.
Additionally, the filing detailed several employee stock options held by Leproust, with varying exercise prices and expiration dates, though no new exercises were reported in this filing. Based on InvestingPro's Fair Value analysis, the stock appears to be trading above its intrinsic value. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report.
In other recent news, Twist Bioscience has shown impressive performance, with Q4 revenues increasing by 27% to $84.7 million, and annual revenue growth of 28% reaching $330 million. The company exceeded its gross margin guidance for the quarter, achieving 45.1%, and saw an annual gross margin improvement to 42.6%. Analysts from Baird, TD Cowen, and Scotiabank (TSX:BNS) have all maintained positive ratings on the company, with Baird and Scotiabank raising their price targets to $48 and $54 respectively. Additionally, TD Cowen reaffirmed its Buy rating with a price target of $58. These recent developments reflect the strong demand for Twist Bioscience's offerings, particularly in the academic and industry sectors. The company's initial guidance for FY25 anticipates revenue growth between 17% to 20% year-over-year, largely driven by the Next (LON:NXT) Generation Sequencing (NGS) and Synthetic Biology (SynBio) sectors. Twist Bioscience is also expected to improve its adjusted EBITDA by roughly $30 million year-over-year. The company's financial position is further bolstered by a $15 million upfront payment received from Xoma (NASDAQ:XOMA) as part of a royalty purchase agreement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.