Twist Bioscience Corp (NASDAQ:TWST) CEO Emily Leproust recently disclosed a sale of company shares, according to a Form 4 filing with the Securities and Exchange Commission. On November 4, 2024, Leproust sold 4,841 shares of Twist Bioscience at an average price of $41.564 per share, totaling approximately $201,211.
The transaction was part of a mandatory "sell to cover" arrangement to address tax withholding obligations related to the vesting of Restricted Stock Units. This requirement is set by the company's equity incentive plans and does not reflect discretionary trading by Leproust.
In addition to this sale, Leproust acquired 80,855 and 45,954 shares of common stock on the same day. These acquisitions were at no cost, as they represent performance stock units with target criteria met, with a portion still subject to time-based vesting. Following these transactions, Leproust holds 603,886 shares of Twist Bioscience directly.
In other recent news, Twist Bioscience has secured a $15 million capital boost from a financial agreement with XOMA Royalty Corporation. This agreement will not affect Twist's current revenue from upfront payments, services, or other earnings from existing collaborations. In the fiscal third quarter of 2024, Twist Bioscience reported a 28% year-over-year increase in revenue, totaling $81.5 million, with a projected Q4 revenue estimated to be between $82 million and $83 million.
Baird has maintained its Outperform rating on Twist Bioscience, citing consistent demand for the company's Express Genes service. Recent personnel changes include the transition of James Thorburn to a Strategic Advisor role and the appointment of Mike Fero, Ph.D., as the new Chief Information Officer.
Twist Bioscience has also expanded its DNA synthesis capabilities, now offering gene fragments up to 5.0 kilobases in length. In collaboration with bitBiome Inc., the company has launched a Transaminase Enzyme Screening Kit. These are the latest developments in the company's operations and strategic initiatives.
InvestingPro Insights
Twist Bioscience Corp (NASDAQ:TWST) has been experiencing significant volatility in its stock price, as highlighted by one of the InvestingPro Tips. This volatility is evident in the company's recent performance, with a remarkable 143.45% price total return over the past year, despite a slight 0.46% decline in the last month.
The company's financial health presents a mixed picture. While Twist Bioscience's liquid assets exceed its short-term obligations, indicating a solid liquidity position, the company is not currently profitable. This aligns with another InvestingPro Tip suggesting that analysts do not anticipate profitability for the company this year. However, Twist Bioscience has demonstrated strong revenue growth, with a 27.81% increase in the most recent quarter.
CEO Emily Leproust's recent stock transactions occurred against this backdrop of financial performance. The company's market capitalization stands at $2.65 billion, reflecting investor confidence despite the lack of profitability. It's worth noting that Twist Bioscience operates with a moderate level of debt, which could provide financial flexibility as the company pursues growth opportunities.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Twist Bioscience, providing deeper insights into the company's financial position and market performance.
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