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Twist Bioscience CEO sells over $37k in company stock

Published 03/22/2024, 04:08 PM
© Reuters.

In a recent transaction, Emily M. Leproust, the Chief Executive Officer of Twist Bioscience Corp (NASDAQ:TWST), a company specializing in synthetic DNA for various applications, sold 1,128 shares of the company's common stock. The sale was executed at an average price of $33.516 per share, totaling approximately $37,806.

The transaction, dated March 20, 2024, was disclosed in a filing with the Securities and Exchange Commission. Following the sale, Leproust's direct ownership in Twist Bioscience stands at 515,281 shares. It's worth noting that the shares sold were part of the company's tax withholding obligations related to the vesting of Restricted Stock Units, as mandated by the company's equity incentive plans. This "sell to cover" transaction is a common practice for fulfilling tax withholding requirements and does not necessarily reflect a change in the executive's view of the company's prospects.

Twist Bioscience Corp, headquartered in South San Francisco, California, operates in the biotechnology sector, focusing on leveraging synthetic biology and genomics to advance various fields, including medicine, agriculture, and industrial chemicals.

The sale by the CEO represents a routine financial transaction and should be interpreted in the context of the executive's overall compensation and equity incentive plan. Investors often monitor such sales for any possible insights into executive sentiment, but it is essential to consider the broader picture, including the company's performance and market conditions.

Twist Bioscience's stock, traded under the ticker TWST, is part of a dynamic industry where executive stock transactions are closely watched by investors seeking to understand the inner workings and future expectations for such innovative companies.

InvestingPro Insights

Twist Bioscience Corp (NASDAQ:TWST) has been navigating the biotech landscape with a balance sheet that holds more cash than debt, a reassuring sign for investors concerned about financial stability. This is one of the key InvestingPro Tips that highlights the company's capacity to fund its operations and research endeavors without relying heavily on external financing. Additionally, Twist Bioscience has been recognized for having liquid assets that exceed its short-term obligations, further solidifying its financial footing.

From a performance standpoint, the company's stock has experienced significant volatility, with a notable price uptick over the last six months, resulting in a remarkable one-year price total return of 127.75%. This volatility and growth potential may appeal to certain investors looking for high-reward opportunities, though it's important to note that analysts do not anticipate the company will be profitable this year, as reflected by both the negative P/E Ratio of -9.64 and the adjusted P/E Ratio for the last twelve months as of Q1 2024 being -10.24.

Investors contemplating a position in TWST may find value in the additional 29 InvestingPro Tips available, which can provide deeper insights into the company's performance and potential. For those interested in accessing these comprehensive analytics, using the coupon code PRONEWS24 can secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

As the next earnings date approaches on May 2, 2024, market participants will be keenly observing Twist Bioscience's financials and strategic direction. The InvestingPro Fair Value estimate stands at $35.64, which is closely aligned with the recent trading price, suggesting that the current market price is reflective of the company's value as estimated by InvestingPro's metrics.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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