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Dennis Cho, Senior Vice President, Chief Legal Officer & Corporate Secretary at Twist Bioscience Corp (NASDAQ:TWST), recently sold 144 shares of the company's common stock. The shares were sold at an average price of $45.5911, amounting to a total transaction value of $6,565.
This sale was not discretionary, as it was conducted to cover tax withholding obligations associated with the vesting of Restricted Stock Units. The transaction was part of the company's equity incentive plan, which mandates a "sell to cover" strategy to meet tax liabilities. Following this transaction, Cho holds 113,027 shares directly. With the stock showing significant volatility and trading near its 52-week range of $27.41-$60.90, investors can access comprehensive insider trading analysis and 7 additional key insights through InvestingPro's detailed research reports.
In other recent news, Twist Bioscience reported significant strides in its financial performance. The company's fiscal year 2024 concluded with a robust performance, highlighted by a 27% increase in Q4 revenues to $84.7 million, and a total annual revenue growth of 28% reaching $330 million. Analyst firms Baird, TD Cowen, and Scotiabank (TSX:BNS) all reaffirmed their positive ratings for Twist Bioscience, with Baird maintaining an Outperform rating and a $48.00 price target, TD Cowen reaffirming a Buy rating with a $58.00 target, and Scotiabank raising its price target to $54 while maintaining a Sector Outperform rating. These ratings reflect the analysts' confidence in Twist Bioscience's strong financial guidance for fiscal year 2025 and the company's consistent pricing premiums for its Express Genes service. Recent developments also include an upfront payment of $15 million received from Xoma (NASDAQ:XOMA) as part of a royalty purchase agreement, further bolstering the company's strong financial position.
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