Evercore ISI downgraded Twist Bioscience shares to In Line from Outperform and set a $102 price target, citing that the stock has already run up sharply this year. The analyst pointed to concerns that short-term expectations are ahead of fundamentals, even as AI-related orders have reportedly doubled. The note argues that AI is acting as an “enabler” rather than fundamentally changing overall revenue growth outlook in the near term. Investors will likely watch for whether clinical or pharma demand translating from AI workloads can convert into durable, broad-based commercial traction. The rating change adds to the pressure on precision-molecular platform companies to demonstrate sustained growth beyond order spikes tied to AI initiatives.