Robert F. Werner, the Chief Accounting Officer of Twist Bioscience Corp (NASDAQ:TWST), recently sold 1,448 shares of the company's common stock. The sale, which took place on November 6, 2024, was executed at a price of $44.605 per share, amounting to a total transaction value of $64,588. Following this transaction, Werner retains ownership of 45,620 shares in the company.
It is important to note that the shares sold were withheld by Twist Bioscience to satisfy Werner's tax withholding obligations related to the vesting of certain Performance Stock Units previously granted to him. This type of transaction is exempt from certain regulatory provisions, specifically Section 16(b), under Rule 16b-3(e).
In other recent news, Twist Bioscience has secured a $15 million capital boost from XOMA Royalty Corporation, bolstering its balance sheet for ongoing innovation. This follows a strong fiscal third quarter for Twist, with a 28% year-over-year increase in revenue, totaling $81.5 million. The company's gross margin also improved to 43.3%, with a goal to exceed 50% by the end of fiscal 2025.
Twist has also seen changes in its leadership team, with James Thorburn transitioning to a Strategic Advisor role and Mike Fero, Ph.D., appointed as the new Chief Information Officer. Baird has maintained its Outperform rating on Twist Bioscience, observing consistent demand for the company's Express Genes service.
The company has expanded its DNA synthesis capabilities, now offering gene fragments up to 5.0 kilobases in length. In collaboration with bitBiome Inc., Twist launched a Transaminase Enzyme Screening Kit, providing a more environmentally friendly alternative for synthesizing chiral amines, key components in drug manufacturing. These are the latest developments in the company's operations and strategic initiatives.
InvestingPro Insights
Twist Bioscience Corp (NASDAQ:TWST) has been experiencing significant market movements recently, which adds context to the recent insider transaction. According to InvestingPro data, the company has seen a remarkable 161.61% price total return over the past year, indicating strong investor confidence. This aligns with one of the InvestingPro Tips, which highlights the "high return over the last year" for TWST stock.
Despite the positive stock performance, it's worth noting that Twist Bioscience is not currently profitable. The company reported an operating income of -$189.94 million in the last twelve months as of Q3 2024. This is reflected in another InvestingPro Tip, which states that "analysts do not anticipate the company will be profitable this year."
However, Twist Bioscience is showing signs of growth, with a revenue increase of 25.37% in the last twelve months, reaching $295.21 million. The company's gross profit margin stands at a healthy 40.53%, suggesting efficient production processes despite the overall lack of profitability.
For investors considering Twist Bioscience, it's important to note that the stock "operates with a moderate level of debt" and that "liquid assets exceed short term obligations," according to InvestingPro Tips. These factors may provide some financial stability as the company works towards profitability.
InvestingPro offers 8 additional tips for Twist Bioscience, providing a more comprehensive analysis for those interested in delving deeper into the company's financial health and market position.
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