In a recent transaction, Robert F. Werner, the Chief Accounting Officer of Twist Bioscience Corp (NASDAQ:TWST), sold 789 shares of the company’s common stock. The shares were sold at an average price of $44.196 each, amounting to a total transaction value of $34,870.
Following this sale, Werner retains direct ownership of 44,831 shares in the company. The transaction was executed on November 25, 2024, as part of a mandatory "sell to cover" process. This process was required to meet tax withholding obligations related to the vesting of restricted stock units and was not a discretionary trade.
In other recent news, Twist Bioscience Corporation (NASDAQ:TWST) has been performing strongly. The company's fiscal year 2024 concluded with a 27% increase in Q4 revenues to $84.7 million and a total annual revenue growth of 28% reaching $330 million. TD Cowen has maintained a Buy rating on Twist Bioscience, based on the company's solid financial guidance for fiscal year 2025. This positive projection is attributed to the company's management and the growth of next-generation sequencing.
Simultaneously, Scotiabank (TSX:BNS) has raised its price target for Twist Bioscience to $54, maintaining a Sector Outperform rating. The firm's decision follows Twist Bioscience's strong performance at the end of the fiscal year 2024, surpassing consensus and guidance in all aspects. 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.
Baird also maintained an Outperform rating on Twist Bioscience and increased the price target to $48.00 from the previous $46.00, following a strong fiscal fourth quarter report. The firm's positive outlook is bolstered by the momentum in synthetic biology and next-generation sequencing. These are among the recent developments that continue to shape the future of Twist Bioscience.
InvestingPro Insights
Twist Bioscience Corp (NASDAQ:TWST) has been experiencing significant market momentum recently, which adds context to the recent insider transaction. According to InvestingPro data, the company's stock has shown a strong return of 14.14% over the last month and an impressive 92.52% over the past year. This positive trend aligns with an InvestingPro Tip indicating that TWST has seen a "significant return over the last week," with a 12.72% gain in the past seven days.
Despite these gains, it's important to note that Twist Bioscience is currently operating at a loss. The company's operating income margin stands at -56.2% for the last twelve months as of Q4 2024, and an InvestingPro Tip suggests that analysts do not anticipate the company to be profitable this year. This financial situation may explain the need for the "sell to cover" transaction to meet tax obligations.
However, Twist Bioscience's revenue growth remains strong, with a 27.69% increase over the last twelve months, reaching $312.97 million. This growth trajectory could be a factor in the stock's recent performance and investor optimism.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Twist Bioscience, providing deeper insights into the company's financial health and market position.
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