Twist Bioscience Corporation (NASDAQ:TWST) has reached a new 52-week high, with its shares soaring to $59.57. This milestone reflects the company's consistent growth and strong performance in the market. Over the past year, TWST has seen a remarkable increase in its value, with a 1-year change of 133.36%. This significant rise underscores the company's robust financial health and its ability to deliver substantial returns to its investors. The new 52-week high serves as a testament to TWST's resilience and its potential for further growth in the future.
"In other recent news, Twist Bioscience Corporation reported a significant 25% increase in revenue for the fiscal 2024 second quarter, amounting to $75.3 million. This surge was primarily driven by the company's synthetic biology product line and Next-Generation Sequencing (NGS) segment, which led to a gross margin exceeding expectations at 41%. Looking ahead, Twist Bioscience anticipates a gross margin above 50% by the end of fiscal 2025. The company concluded the quarter with a robust $292 million in cash, cash equivalents, and short-term investments. Furthermore, Twist Bioscience expects its total revenue for fiscal 2024 to be between $300 million and $304 million, with a gross margin of 41.5% to 42%. In other developments, Barclays (LON:BARC) maintained its Overweight rating on Twist Bioscience shares, seeing an opportunity for the company amid recent government inquiries into a competitor's business operations. These developments are recent and reflect the company's ongoing financial performance and market strategies."
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