Robert Chess, director of Twist Bioscience Corp (NASDAQ: ), a $2.82 billion market cap biotechnology company, recently sold shares in the company, according to a regulatory filing. According to InvestingPro data, TWST has shown strong momentum with an increase of 30.67% since the beginning of the year, although the stock remains extremely volatile. Chess sold a total of 3,504 shares on December 5, earning approximately $181,696. Shares were traded at prices ranging from $51.7025 to $52.4511 per share. This transaction was executed according to a predetermined trading plan.
In addition to the sale, Chess exercised stock options, acquiring 3,504 shares at $8.82 each, for a total of $30,905. Following these transactions, Chess holds 21,641 shares directly and an additional 42,528 shares indirectly through the Chess 1997 Trust.
In other recent news, Twist Bioscience has been performing strongly in the financial arena. The company’s 2024 fiscal year concluded with a 27% increase in revenue in the fourth quarter to $84.7 million and a 28% year-over-year growth in total revenue, reaching $330 million. The company also exceeded gross margin guidance for the quarter, coming in at 45.1%, and saw its year-over-year gross margin improve to 42.6%.
Analysts from Baird, TD Cowen and Scotiabank (TSX:) all reiterated their positive views on Twist Bioscience. Baird maintained its Outperform rating and raised its price target to $48. Scotiabank raised its target price for the company to $54, maintaining a Sector Outperform rating. TD Cowen reaffirmed a Buy rating on Twist Bioscience, noting the company’s firm financial guidance for fiscal 2025.
Twist Bioscience’s initial FY25 guidance calls for revenue growth of between 17% and 20% year-over-year, driven largely by Following (LON:) Sectors Generation Sequencing (NGS) and Synthetic Biology (SynBio). The company is also expected to improve its adjusted EBITDA by approximately $30 million year-over-year. These recent developments point to a promising future for Twist Bioscience.
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