Paula Green, the Senior Vice President of Human Resources at Twist Bioscience Corp (NASDAQ:TWST), recently sold shares of the company. According to a filing with the Securities and Exchange Commission, Green sold 5,519 shares of Twist Bioscience common stock on November 6, 2024. The shares were sold at an average price of $44.605, totaling approximately $246,174.
Following this transaction, Green retains direct ownership of 115,494 shares in the company. The sale was part of a routine transaction, as the shares were withheld by the issuer to satisfy tax withholding obligations related to the vesting of Performance Stock Units previously granted to Green.
In other recent news, Twist Bioscience Corporation (NASDAQ:TWST) reported a significant 28% year-over-year increase in revenue for the fiscal third quarter of 2024, totaling $81.5 million. The company's gross margin also improved to 43.3%, with an aim to exceed 50% by the end of fiscal 2025. Projected Q4 revenue for the company is estimated to be between $82 million and $83 million, indicating a 27% expected increase in total revenue for fiscal 2024.
Twist Bioscience has also secured a $15 million capital boost through a new financial agreement with XOMA Royalty Corporation. This agreement grants XOMA the right to receive half of the potential future milestone and royalty payments from Twist's existing antibody discovery and biopharma services collaborations.
In terms of analyst ratings, Baird has maintained an Outperform rating on Twist Bioscience, citing consistent demand for the company's Express Genes service. The firm noted that the average premium charged to academic institutions remained stable at approximately 42%.
In personnel updates, James Thorburn transitioned to a Strategic Advisor role, providing consulting services at $25,000 per month. Additionally, Mike Fero, Ph.D., was appointed as the new Chief Information Officer, leveraging his three decades of experience in startups, software development, and deep-tech industries.
On the operational front, Twist Bioscience expanded its DNA synthesis capabilities, now offering gene fragments up to 5.0 kilobases in length. In collaboration with bitBiome Inc., the company launched a Transaminase Enzyme Screening Kit, providing a more environmentally friendly alternative for synthesizing chiral amines, key components in drug manufacturing. These are some of the recent 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 insider sale by Paula Green. According to InvestingPro data, TWST has seen a remarkable 1-year price total return of 161.61% as of the latest available data. This substantial gain aligns with an InvestingPro Tip indicating a "high return over the last year."
The company's stock price volatility, as noted in another InvestingPro Tip, may explain why executives might choose to sell shares at certain times. With a market capitalization of $2.66 billion, Twist Bioscience is operating in a dynamic sector where stock movements can be pronounced.
Despite the strong stock performance, it's worth noting that analysts do not anticipate the company to be profitable this year, according to an InvestingPro Tip. This insight is supported by the company's financial metrics, including a negative operating income of -$189.94 million for the last twelve months as of Q3 2024.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics that could provide further insight into Twist Bioscience's financial health and market position. In fact, there are 6 more InvestingPro Tips available for TWST, which could be valuable for understanding the full picture of the company's prospects and challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.