Paula Green, the Senior Vice President of Human Resources at Twist Bioscience Corp (NASDAQ:TWST), recently executed transactions involving the company's common stock. On November 4, 2024, Green acquired a total of 37,485 shares through performance stock units, priced at $0 per share. These acquisitions were part of performance criteria met on the same day, with 60% of the units remaining subject to time-based vesting until October 1, 2025.
In a separate transaction, Green sold 1,057 shares at $41.564 each, totaling $43,933. This sale was mandated to cover tax withholding obligations related to the vesting of Restricted Stock Units and was not a discretionary trade by Green. Following these transactions, Green holds 121,013 shares of Twist Bioscience.
In other recent news, 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 an aim to exceed 50% by the end of fiscal 2025. Projected Q4 revenue for the company is estimated to be between $82 million and $83 million, indicating a 27% expected increase in total revenue for fiscal 2024.
Twist Bioscience also secured a $15 million capital boost from a new financial agreement with XOMA Royalty Corporation, which 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.
Baird maintained its Outperform rating on Twist Bioscience, citing consistent demand for the company's Express Genes service. The firm noted that the average premium charged to academic institutions remained stable at approximately 42% in October, slightly down from around 43% in September.
In personnel updates, James Thorburn transitioned to a Strategic Advisor role, providing consulting services at $25,000 per month. Additionally, Mike Fero, Ph.D., was appointed as the new Chief Information Officer, leveraging his three decades of experience in startups, software development, and deep-tech industries.
Lastly, Twist Bioscience expanded its DNA synthesis capabilities, now offering gene fragments up to 5.0 kilobases in length. In collaboration with bitBiome Inc., the company launched a Transaminase Enzyme Screening Kit, providing a more environmentally friendly alternative for synthesizing chiral amines, key components in drug manufacturing. These are the latest developments in the company's operations and strategic initiatives.
InvestingPro Insights
To provide context to Paula Green's recent stock transactions at Twist Bioscience Corp (NASDAQ:TWST), it's worth examining some key financial metrics and expert insights from InvestingPro.
Twist Bioscience has shown impressive revenue growth, with a 25.37% increase over the last twelve months as of Q3 2024, reaching $295.21 million. This growth trajectory aligns with the company's performance-based stock awards to executives like Green, suggesting a positive outlook on the company's expansion.
However, investors should note that Twist Bioscience is not currently profitable, with an operating income margin of -64.34% over the same period. This is reflected in one of the InvestingPro Tips, which indicates that analysts do not anticipate the company to be profitable this year. This context helps explain why the company might use stock-based compensation as a tool to retain and motivate key executives like Green without impacting cash reserves.
Despite the lack of profitability, Twist Bioscience's stock has shown remarkable performance, with a one-year price total return of 143.45% as of the latest data. This aligns with another InvestingPro Tip highlighting the company's high return over the last year, which may have contributed to the value of Green's stock awards.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Twist Bioscience, providing a deeper understanding of the company's financial health and market position.
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