Evercore ISI downgraded Twist Bioscience shares to “In Line” from “Outperform,” citing that near-term expectations appear ahead of fundamentals. The analyst, Vijar Kumar, pointed to the stock’s more than 200% gain year-to-date and said much of the rally followed an investor day statement that Twist was on track to double AI-related orders in fiscal 2026. Evercore acknowledged “positives” from the AI revenue uptick but argued overall revenue trends had not shown an inflection. The note characterizes AI as an “enabler” rather than a driver that fundamentally changes the company’s broader growth outlook. Twist stock was indicated down 2% in morning trading in the US, reflecting investor sensitivity to guidance cadence and the pace of order conversion in AI-linked demand.