Nucor earnings beat by $0.08, revenue fell short of estimates
In recent transactions filed with the Securities and Exchange Commission, Dennis Cho, Senior Vice President, Chief Legal Officer, and Corporate Secretary at Twist Bioscience Corp (NASDAQ:TWST), sold 124 shares of the company’s common stock. The shares were sold at a price of $38.733 each, amounting to a total of $4,802. According to InvestingPro data, TWST currently trades at $36.21, with the stock showing notable volatility in recent months. The company maintains a strong balance sheet with a healthy current ratio of 4.96 and has demonstrated robust revenue growth of ~26% over the last twelve months.
This transaction was executed to cover tax withholding obligations related to the vesting of Restricted Stock Units, as mandated by the company’s equity incentive plans. Following this sale, Cho retains direct ownership of 111,538 shares in the company. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro offers exclusive access to detailed research reports and real-time insider transaction alerts for over 1,400 US stocks, including TWST.
In other recent news, Twist Bioscience Corporation reported financial results for the first quarter of fiscal year 2025 that exceeded expectations, prompting Scotiabank (TSX:BNS) to raise its price target for the company to $62 while maintaining a Sector Outperform rating. The company revised its full-year fiscal 2025 guidance, projecting total revenue growth of 19-21% year-over-year, an increase from the prior forecast. Gross margins are expected to be around 49% for the full year, improving from previous estimates. Additionally, Twist Bioscience anticipates an adjusted EBITDA loss of about $36 million, better than earlier projections. Barclays (LON:BARC) also increased its price target for Twist Bioscience to $58, citing growing momentum in the company’s Express portfolio and Next-Generation Sequencing tools. The company held its Annual Meeting of Stockholders, where stockholders approved an increase in authorized common stock by 100 million shares and amendments to the equity incentive plan. These amendments include an increase of 3.7 million shares reserved for issuance and the removal of the "evergreen" provision. The Charter was also amended to provide officer exculpation under specific circumstances.
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