Emily Leproust, CEO of Twist Bioscience Corp (NASDAQ:TWST), recently sold 7,968 shares of the company's common stock, generating proceeds of approximately $382,448. The transaction, executed on November 11, 2024, was made at a price of $47.998 per share.
Following this transaction, Leproust retains direct ownership of 581,584 shares. The sales were conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units, as mandated by the company's equity incentive plans. These transactions do not represent discretionary trades by Leproust.
In addition to the stock sale, Leproust holds various employee stock options at differing exercise prices, with expiration dates extending to 2030. These options, however, were not exercised in the recent transactions.
In other recent news, Twist Bioscience Corporation (NASDAQ:TWST) has secured a $15 million capital boost from XOMA Royalty Corporation. This financial agreement 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. Twist Bioscience has shown significant growth in its fiscal third quarter of 2024, with a 28% year-over-year increase in revenue, totaling $81.5 million. The company's gross margin also improved to 43.3%, with a goal to exceed 50% by the end of fiscal 2025.
Baird has maintained its Outperform rating on Twist Bioscience, citing consistent demand for the company's Express Genes service. The company has also seen changes in its team, with James Thorburn transitioning to a Strategic Advisor role, and the appointment of Mike Fero, Ph.D., as the new Chief Information Officer.
Twist Bioscience has 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 among the recent developments at Twist Bioscience.
InvestingPro Insights
To provide additional context to Emily Leproust's recent stock sale, it's worth examining some key financial metrics and insights from InvestingPro for Twist Bioscience Corp (NASDAQ:TWST).
According to InvestingPro data, Twist Bioscience has demonstrated strong 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 position in the dynamic biotechnology sector.
Despite the revenue growth, an InvestingPro Tip indicates that Twist Bioscience is not expected to be profitable this year. This insight is supported by the company's negative operating income of -$189.94 million over the last twelve months. The lack of profitability might explain why the company does not currently pay a dividend to shareholders, as noted in another InvestingPro Tip.
Interestingly, while the company faces profitability challenges, its stock has shown remarkable performance. An InvestingPro Tip highlights that Twist Bioscience has delivered a high return over the last year, with data showing a one-year price total return of 162.22% as of the most recent data point. This strong stock performance could potentially influence insider trading decisions and investor sentiment.
It's also noteworthy that the company operates with a moderate level of debt, according to an InvestingPro Tip. This financial position may provide Twist Bioscience with some flexibility as it continues to invest in growth and navigate towards profitability.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 8 more InvestingPro Tips available for Twist Bioscience, which could provide valuable context for understanding the company's financial health and market position.
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