On June 23, Twist Bioscience fell 5.04% in pre-market trading, trading at $83.57/share, with turnover of $50,400, giving back recent gains.
On the news front, Twist Bioscience filed a shelf registration statement with the U.S. Securities and Exchange Commission last Thursday for the potential sale of securities from time to time in one or more offerings. The filing covers common stock, preferred stock, debt securities, warrants, and units, and includes a prospectus for the sale of up to $200 million of common stock under an at-the-market program. The company stated it intends to use any net proceeds for general corporate purposes. With a total market capitalization of approximately $5.45 billion and roughly 62.27 million shares outstanding, the potential issuance raises meaningful dilution concerns among investors.
Notably, the stock had rallied sharply in recent sessions following Canaccord Genuity's buy rating and $90 price target — significantly above the consensus target of $73.12 — climbing from $85.25 to $87.56 between June 16 and June 18 before the registration filing triggered the current reversal.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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