Patrick John Finn, President and COO of Twist Bioscience Corp (NASDAQ:TWST), recently sold 10,340 shares of the company's common stock. The transaction, which took place on November 11, 2024, was valued at approximately $496,299, with each share priced at $47.998. Following this sale, Finn retains ownership of 221,061 shares.
According to a footnote in the filing, the sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units, as mandated by the company's equity incentive plans. These transactions were not discretionary trades by Finn.
In other recent news, Twist Bioscience Corporation (NASDAQ:TWST) secured a $15 million capital boost from a financial agreement with XOMA Royalty Corporation. The agreement allows XOMA to receive part of the potential future milestone and royalty payments from Twist's existing collaborations. In terms of earnings, Twist Bioscience reported a 28% year-over-year increase in revenue for the fiscal third quarter of 2024, totaling $81.5 million, with projections for Q4 revenue to be between $82 million and $83 million.
Baird maintained its Outperform rating on Twist Bioscience, indicating a consistent demand for the company's Express Genes service. 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, offering gene fragments up to 5.0 kilobases in length, and launched a Transaminase Enzyme Screening Kit in collaboration with bitBiome Inc. 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 reflected in the company's impressive 162.22% price total return over the past year, despite a more modest 1.78% return in the last month. The stock is currently trading at 69.77% of its 52-week high, suggesting there may be room for further growth.
The company's financial performance shows a mix of strengths and challenges. While Twist Bioscience has demonstrated strong revenue growth, with a 25.37% increase over the last twelve months and a 27.81% quarterly growth, it is not currently profitable. The operating income margin stands at -64.34%, indicating significant operational costs relative to revenue.
InvestingPro Tips also point out that Twist Bioscience operates with a moderate level of debt and has liquid assets exceeding short-term obligations, which could provide financial flexibility as the company continues to grow. However, investors should note that the company does not pay a dividend, focusing instead on reinvestment and growth.
For those interested in a deeper analysis, InvestingPro offers 7 additional tips for Twist Bioscience, providing a more comprehensive view of the company's financial health and market position.
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