Twist Bioscience Corp (TWST) saw its stock price plummet by 5.40% during Tuesday's trading session, reflecting a significant downturn for the biotechnology company. The sharp decline came as investors reacted to a series of analyst downgrades that painted a less optimistic picture of the company's near-term prospects.
The primary catalyst for the stock's downward movement appears to be the target price cuts from two major financial institutions. Both JP Morgan and TD Cowen revised their outlook on Twist Bioscience, signaling potential challenges ahead for the company and prompting a sell-off among investors.
JP Morgan took a particularly bearish stance, slashing its target price for Twist Bioscience from $33 to $25, a reduction of nearly 25%. Meanwhile, TD Cowen also lowered its target price, albeit less drastically, from $58 to $36. These downgrades suggest that analysts are adjusting their expectations for Twist Bioscience's performance, which has evidently shaken investor confidence in the stock.
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