TWST - Why Shares of Twist Bioscience Are Up Friday
2023-08-04 13:21:39 ET
Shares of Twist Bioscience (NASDAQ: TWST) were up more than 14% as of 1 p.m. on Friday after the company reported third-quarter earnings before the markets opened on Friday. The stock is up less than 1% so far this year.
Twist is a biotech company that makes synthetic biology and next-generation sequencing tools to help drug companies find novel therapies for treatments.
The combination of improved revenue and reduced losses was enough to help the stock rise. The company cited increased orders of its products for the improved financials. It shipped products to 2,200 customers compared to 1,900 in the third quarter of 2022. It also shipped 171,000 genes compared to 163,000 in the same period a year ago.
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Why Shares of Twist Bioscience Are Up Friday