Twist Bioscience Corp (TWST) saw its stock price plummet by 5.20% in Tuesday's trading session, following a significant price target cut by JP Morgan analysts.
The sharp decline came after JP Morgan lowered its price target for Twist Bioscience from $40 to $33, maintaining an "Underweight" rating on the stock. This reduction in the price target suggests that the investment bank has become more pessimistic about the company's near-term prospects, which likely triggered a sell-off among investors.
While JP Morgan's downgrade seems to be the primary driver of the stock's decline, it's worth noting that Guggenheim maintained its price target for Twist Bioscience at $50 per share. This conflicting view from another analyst firm highlights the divergent opinions on the company's future performance. Investors appear to be giving more weight to JP Morgan's bearish stance in the short term, as reflected in the significant stock price drop.
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