SAN FRANCISCO—Paula Green, the Senior Vice President of Human Resources at Twist Bioscience Corp (NASDAQ:TWST), recently sold 1,347 shares of the company's common stock. The shares were sold at an average price of $47.998 per share, totaling approximately $64,653.
Following this transaction, Green holds 114,147 shares of Twist Bioscience. The sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units, as per the company's equity incentive plans. These transactions were not discretionary trades by Green.
Twist Bioscience, based in South San Francisco, specializes in developing synthetic DNA for various applications in the life sciences sector.
In other recent news, Twist Bioscience has secured a $15 million capital boost from a new financial agreement with XOMA Royalty Corporation. The deal grants XOMA the right to receive half of the potential future milestone and royalty payments from Twist's existing antibody discovery and biopharma services collaborations. Twist Bioscience reported a significant 28% year-over-year increase in revenue for the fiscal third quarter of 2024, totaling $81.5 million. The company's gross margin also improved to 43.3%, with a target to exceed 50% by the end of fiscal 2025. Baird has maintained its Outperform rating on Twist Bioscience, citing consistent demand for the company's Express Genes service. James Thorburn transitioned to a Strategic Advisor role, while Mike Fero, Ph.D., was appointed as the new Chief Information Officer. Twist Bioscience also expanded its DNA synthesis capabilities, now 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
While Paula Green's recent stock sale was primarily to cover tax obligations, it's worth examining Twist Bioscience's current financial position to provide context for investors. According to InvestingPro data, Twist Bioscience has a market capitalization of $2.5 billion, reflecting its significant presence in the synthetic DNA market.
The company's revenue growth is noteworthy, with a 25.37% increase over the last twelve months as of Q3 2024, and an even stronger 27.81% growth in the most recent quarter. This robust top-line expansion aligns with Twist Bioscience's innovative position in the life sciences sector.
However, profitability remains a challenge for the company. An InvestingPro Tip indicates that Twist Bioscience is not expected to be profitable this year, which is consistent with its current operating income margin of -64.34%. Despite this, the company's stock has shown remarkable performance, with a one-year price total return of 162.22% as of the latest data.
Another InvestingPro Tip highlights that Twist Bioscience operates with a moderate level of debt, which could provide financial flexibility as it continues to invest in growth. This is particularly important for a company in the capital-intensive biotechnology sector.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Twist Bioscience, providing deeper insights into the company's financial health and market position.
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