Robert Chase, director of Twist Bioscience Corp (NASDAQ:), a biotechnology company with a market cap of $2.82 billion, recently sold shares of the company, according to a regulatory filing. according to InvestingPro According to the data, TWST has shown strong momentum with gains of 30.67% year-to-date, although the stock remains remarkably volatile. On December 5, Chess sold a total of 3,504 shares, generating approximately $181,696. The shares were sold at prices ranging from $51.7025 to $52.4511 per share. This transaction was executed under a pre-defined trading plan.
In addition to the sales, Chess exercised stock options, acquiring 3,504 shares at $8.82 per share, for a total of $30,905. Following these transactions, Chess owns 21,641 shares directly and an additional 42,528 shares indirectly through the Chess 1997 Trust.
In other recent news, Twist Bioscience performed strongly in the financial arena. The company's fiscal year 2024 concluded with a 27% increase in fourth-quarter revenues to $84.7 million and a 28% growth in total annual revenues to $330 million. The company also exceeded its gross margin guidance for the quarter, achieving 45.1%, and saw year-over-year improvement in gross margin to 42.6%.
Analysts from Baird, T.D. Cowen, and… Scotiabank (TSX:) all reiterated their positive outlook on Twist Bioscience. Baird maintained an Outperform rating and increased the price target to $48. Scotiabank raised its price target on the company to $54, while maintaining an Outperform sector rating. TD Cowen reaffirmed its Buy rating on Twist Bioscience, highlighting the company's strong financial guidance for fiscal 2025.
Twist Bioscience's preliminary guidance for FY25 expects revenue growth of 17% to 20% year over year, largely driven by the next (LON:) Generation Sequencing (NGS) and Synthetic Biology (SynBio) sectors. The company is also expected to improve adjusted EBITDA by about $30 million year over year. These recent developments point to a promising future for Twist Bioscience.
This article was created with the power of artificial intelligence and reviewed by an editor. For more information, see our terms and conditions.
