Twist Bioscience Corp (NASDAQ:TWST) has reported a transaction by SVP of Human Resources Paula Green, involving the sale of company shares. According to the latest SEC filing, Green sold 297 shares of common stock at a price of $46.941 per share. This transaction resulted in a total value of approximately $13,941.
The shares sold by Green were part of a "sell to cover" transaction, which is a common practice where employees sell a portion of their stock to cover tax withholding obligations upon the vesting of Restricted Stock Units (RSUs). The sale is often mandated by company policy under equity incentive plans and should not be seen as a discretionary market trade by the individual.
Following the sale, Green continues to hold 87,895 shares of Twist Bioscience. The company, which operates in the biological products industry, is based in South San Francisco, California, and is known for its innovative approaches in the field of synthetic biology.
Investors often monitor insider transactions as they can provide insights into the executives' perspectives on the company's current valuation and future prospects. However, it's important to note that transactions related to tax obligations may not necessarily reflect the individual's outlook on the company's financial health or performance.
The transaction was completed on September 20, 2024, and was publicly filed on September 24, 2024. Interested parties can find further details in the company's SEC Form 4 filing.
In other recent news, Twist Bioscience Corporation reported a robust 28% year-over-year growth in revenue for the fiscal third quarter of 2024, totaling $81.5 million. The company's gross margin also improved significantly to 43.3%, with a target to exceed 50% by the end of fiscal 2025. Furthermore, Twist Bioscience anticipates a 27% increase in total revenue for fiscal 2024 year-over-year, with projected Q4 revenue between $82 million and $83 million.
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 also launched a Transaminase Enzyme Screening Kit, aiming to provide a more environmentally friendly alternative for synthesizing chiral amines, key components in drug manufacturing.
Baird reaffirmed its favorable stance on Twist Bioscience, maintaining an Outperform rating, observing an increase in the average premium charged to academic institutions for the company's Express Genes service. This suggests strong demand for the company's synthetic genes offering. These are recent developments in Twist Bioscience's operations and strategic initiatives.
InvestingPro Insights
Twist Bioscience Corp (NASDAQ:TWST), a trailblazer in synthetic biology, has recently been the subject of a notable insider transaction. While such events are closely watched by investors, it's also essential to consider the broader financial context in which these companies operate. InvestingPro offers real-time data and analysis that can provide additional layers of understanding to such corporate activities.
One InvestingPro Tip indicates that analysts are not expecting Twist Bioscience to be profitable this year, which aligns with the company's recent financial metrics showing a negative P/E ratio of -12.24 and an adjusted P/E ratio for the last twelve months as of Q3 2024 at -15.1. This suggests that the market is pricing in the company's growth potential rather than current earnings.
Despite the lack of profitability, Twist Bioscience's stock has experienced a significant return over the past year, with a 122.66% price total return. This might reflect investor optimism about the company's future, considering its 25.37% revenue growth over the last twelve months as of Q3 2024. Moreover, the company's liquid assets exceed its short-term obligations, which is an encouraging sign of financial stability.
The current market capitalization stands at $2.72 billion, and the company operates with a moderate level of debt, which is a positive signal for risk-averse investors. For those interested in delving deeper into Twist Bioscience's financial health and future prospects, InvestingPro offers additional insights, including 8 more InvestingPro Tips available at: https://www.investing.com/pro/TWST.
Investors should also note that the company does not pay dividends, which may be a factor for those seeking income-generating investments. However, the focus for Twist Bioscience remains on reinvesting earnings into its growth initiatives within the biological products industry.
As the company approaches its next earnings date on November 15, 2024, stakeholders and potential investors can benefit from the InvestingPro platform to stay updated with the latest data and analytics.
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