TWST - Why Twist Bioscience Stock Is Sinking Today
Shares of Twist Bioscience (NASDAQ: TWST) were sinking 17.5% as of 11:18 a.m. ET on Friday. The steep decline came after the synthetic DNA maker announced its fiscal 2023 first-quarter results.
Twist reported Q1 revenue of $54.2 million, up 29% year over year. This revenue total narrowly beat the consensus Wall Street estimate of $54.1 million.
The company posted a net loss in the first quarter of $41.8 million, or $0.74 per share. This result reflected improvement from the net loss of $45.6 million, or $0.91 per share, in the prior-year period. It also was much better than the average analysts' estimate of a net loss of $1.13 per share in Q1.
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Why Twist Bioscience Stock Is Sinking Today