Twist Bioscience Corporation Down 17.75% To $25.42 After Earnings Beat

Twist Bioscience Corp (TWST) reported better than expected earnings this morning for Q1 2023.

Twist Bioscience Corporation's earnings came in at an EPS loss of $0.74 per share, 35.00% higher than estimates for an EPS loss of $1.13 per share. The firm's loss per share narrowed by 19% since reporting a loss of $0.91 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $54.2 million. That is an increase of 29.09% in revenues from the year-ago report and is 0.26% higher than consensus estimates set at $54.1 million.

The stock is down 17.75% to $25.42 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Twist Bioscience Corporation has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 13, putting Twist Bioscience Corporation in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $21.78 on December 27, 2022 and set a 52-week high on February 7, 2022 at $66.15.

Twist Bioscience Corp is a synthetic biology company. It develops a disruptive DNA synthesis platform to industrialize the engineering of biology. The company's DNA synthesis platform utilizes a proprietary semiconductor-based synthetic DNA manufacturing process that synthesizes DNA on silicon instead of on traditional well-plastic plates to enable the production of high-quality synthetic DNA faster and affordable as well as overcomes inefficiencies and powers cost-effective, rapid high-throughput synthesis, enabling researchers to rapidly realize opportunities ahead. Geographically, it derives a majority of its revenue from the United States.