SAN FRANCISCO—Paula Green, the Senior Vice President of Human Resources at Twist Bioscience Corp (NASDAQ:TWST), a $2.7 billion market cap company, recently sold shares of the company, according to a filing with the Securities and Exchange Commission. According to InvestingPro data, the stock has shown significant volatility while maintaining a GOOD overall financial health score. On January 3, Green sold 160 shares of Twist Bioscience common stock at an average price of $45.5911 per share, totaling approximately $7,294.
The transaction was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units, as mandated by the company's equity incentive plans. This "sell to cover" transaction is not considered a discretionary trade by Green, according to the filing.
Following the sale, Green retains ownership of 133,273 shares of Twist Bioscience. The company, headquartered in South San Francisco, specializes in the biological products sector, excluding diagnostic substances. InvestingPro analysis indicates the stock is trading slightly above its Fair Value, with analysts maintaining a bullish outlook despite expectations that the company won't be profitable this year. Get deeper insights with InvestingPro's comprehensive research report, available for over 1,400 US stocks.
In other recent news, Twist Bioscience reported a robust fiscal year 2024, with Q4 revenues witnessing a 27% increase to $84.7 million and total annual revenue growth of 28% reaching $330 million. The company exceeded its gross margin guidance for the quarter, achieving 45.1%, and saw an annual gross margin improvement to 42.6%. Analysts from Baird, TD Cowen, and Scotiabank (TSX:BNS) reaffirmed their positive ratings on Twist Bioscience, with Baird and Scotiabank raising their price targets to $48 and $54 respectively. TD Cowen maintained a Buy rating with a price target of $58, citing the company's solid financial guidance for fiscal year 2025. In addition, Twist Bioscience has forecasted revenue growth between 17% to 20% year-over-year for fiscal 2025, largely driven by the Next (LON:NXT) Generation Sequencing and Synthetic Biology sectors. The company's financial position was further strengthened by a $15 million upfront payment received from Xoma (NASDAQ:XOMA) as part of a royalty purchase agreement.
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