Shares of Twist Bioscience Corp (TWST) plummeted 5.10% in pre-market trading on Monday, following a target price cut by Barclays. The sharp decline comes as investors react to the lowered expectations from a major financial institution.

Barclays, in a note released early Monday, reduced its target price for Twist Bioscience from $40 to $37. This adjustment represents a 7.5% decrease in the bank's valuation of the company. The reasons behind Barclays' decision were not immediately clear, but such moves are typically based on reassessments of a company's growth prospects, financial health, or industry conditions.

The market's swift and significant reaction to this target price cut underscores the weight that analyst opinions carry, especially those from prominent financial institutions like Barclays. Investors often use these price targets as benchmarks for their own investment decisions. As trading continues throughout the day, it remains to be seen whether Twist Bioscience can recover from this early morning setback or if the downward pressure will persist.