On August 3, Twist Bioscience Corp declined 9.51% in regular trading, trading at approximately $87.2 per share, with turnover of $23.49 million. The selloff was triggered by the company's fiscal third-quarter earnings report showing a sharp swing from profit to loss.
The company reported a fiscal Q3 net loss of $0.56 per diluted share, swinging from earnings of $0.33 a year earlier. The loss exceeded the analyst consensus estimate of $0.51 per share. On the revenue side, the company posted $118.4 million, up 23.2% year-over-year, beating the $114.5 million estimate. The company also raised its full-year revenue outlook to $456-$457 million from a prior range of $442-$447 million, and guided fiscal Q4 revenue of $123-$124 million versus the $117.4 million consensus.
Despite strong top-line growth and upbeat forward guidance, the deterioration in profitability dominated investor sentiment. Additionally, Evercore ISI had downgraded the stock from Outperform to In Line in early July, reflecting prior concerns about near-term earnings trajectory.
(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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