Nucor earnings beat by $0.08, revenue fell short of estimates
Patrick John Finn, the President and Chief Operating Officer of Twist Bioscience Corp (NASDAQ:TWST), a $2.7 billion market cap company trading near $45.62, recently reported a sale of company stock valued at $10,440. The transaction, which took place on January 3, 2025, involved the sale of 229 shares at an average price of $45.5911 per share.
This sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units, as mandated by Twist Bioscience's equity incentive plans. The transaction was not a discretionary trade by Finn, as noted in the filing. Following the sale, Finn retains ownership of 274,466 shares of Twist Bioscience. According to InvestingPro, stock price movements have been quite volatile, with the company's shares trading between $27.41 and $60.90 over the past 52 weeks. Investors should note that Twist Bioscience is scheduled to report its next earnings on January 31, 2025. For deeper insights into insider trading patterns and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro, covering this and 1,400+ other top US stocks.
In other recent news, Twist Bioscience Corporation (NASDAQ:TWST) has been making significant strides with solid financial performances. 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. The company also exceeded its gross margin guidance for the quarter, achieving 45.1%, and saw an annual gross margin improvement to 42.6%.
Twist Bioscience received positive ratings from several analyst firms. Baird maintained an Outperform rating and increased the price target to $48.00. TD Cowen reaffirmed a Buy rating, and Scotiabank (TSX:BNS) raised its price target for the company to $54, maintaining a Sector Outperform rating.
These recent developments indicate 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.
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