Robert Chess, a director at Twist Bioscience Corp (NASDAQ:TWST), a biotechnology company with a market capitalization of $2.82 billion, recently sold shares of the company's stock, according to a regulatory filing. According to InvestingPro data, TWST has shown strong momentum with a 30.67% gain year-to-date, though the stock remains notably 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-established trading plan.
In addition to the sales, Chess exercised stock options, acquiring 3,504 shares at a price of $8.82 each, totaling $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 fiscal year 2024 concluded with a 27% increase in Q4 revenues to $84.7 million and a total annual revenue growth of 28%, reaching $330 million. The company also exceeded its gross margin guidance for the quarter, achieving 45.1%, and saw an annual gross margin improvement to 42.6%.
Analysts from Baird, TD Cowen, and Scotiabank (TSX:BNS) have all reiterated their positive outlooks on Twist Bioscience. Baird maintained an Outperform rating and increased the price target to $48. Scotiabank raised its price target for the company to $54, maintaining a Sector Outperform rating. TD Cowen reaffirmed a Buy rating on Twist Bioscience, highlighting the company's solid financial guidance for fiscal year 2025.
Twist Bioscience's initial guidance for FY25 anticipates revenue growth between 17% to 20% year-over-year, largely driven by the Next (LON:NXT) Generation Sequencing (NGS) and Synthetic Biology (SynBio) sectors. The company is also expected to improve its adjusted EBITDA by roughly $30 million year-over-year. These recent developments indicate a promising future for Twist Bioscience.
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