23,800 Shares in Twist Bioscience Corporation $TWST Bought by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd bought 23,800 Twist Bioscience shares worth approximately $2.45 million during the second quarter. Other institutions, including Goldman Sachs and Intech Investment Management, also increased their positions, while Norges Bank initiated a new stake.
• Twist Bioscience reported quarterly revenue of $118.38 million, up 23.2% year over year and above estimates, but its loss of $0.56 per share missed expectations. The company continues to post negative profitability, with analysts forecasting a full-year loss.
• The stock opened at $145.59, near its one-year high, while the analyst consensus remains “Moderate Buy” with an average price target of $98.30. Insiders sold roughly 151,529 shares worth $17.7 million over the past 90 days.

Maxi Investments CY Ltd bought a new position in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,800 shares of the company's stock, valued at approximately $2,449,000.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Twist Bioscience by 11.8% in the first quarter. Royal Bank of Canada now owns 40,373 shares of the company's stock worth $1,585,000 after buying an additional 4,254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Twist Bioscience by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,310 shares of the company's stock valued at $2,765,000 after acquiring an additional 3,181 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Twist Bioscience by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 932,978 shares of the company's stock valued at $36,629,000 after acquiring an additional 37,577 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Twist Bioscience by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 28,917 shares of the company's stock valued at $1,135,000 after acquiring an additional 4,591 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Twist Bioscience in the 2nd quarter valued at approximately $737,000.

Twist Bioscience Price Performance

Shares of NASDAQ:TWST opened at $145.59 on Monday. The company has a 50 day moving average of $100.69 and a 200-day moving average of $70.50. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -65.58 and a beta of 2.14. Twist Bioscience Corporation has a one year low of $23.30 and a one year high of $145.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.38.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.05). Twist Bioscience had a negative net margin of 31.66% and a negative return on equity of 28.64%. The company had revenue of $118.38 million during the quarter, compared to analyst estimates of $114.55 million. During the same period last year, the company earned $0.33 EPS. The business's revenue for the quarter was up 23.2% compared to the same quarter last year. On average, sell-side analysts forecast that Twist Bioscience Corporation will post -2.12 earnings per share for the current year.

Insider Activity

In related news, CFO Adam Laponis sold 2,399 shares of the firm's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $94.33, for a total transaction of $226,297.67. Following the sale, the chief financial officer owned 110,276 shares of the company's stock, valued at approximately $10,402,335.08. This trade represents a 2.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dennis Cho sold 14,205 shares of Twist Bioscience stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $89.75, for a total value of $1,274,898.75. Following the transaction, the insider owned 105,141 shares in the company, valued at approximately $9,436,404.75. This represents a 11.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 151,529 shares of company stock valued at $17,708,772. 3.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TWST shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Twist Bioscience in a research report on Wednesday, June 24th. UBS Group set a $89.00 price objective on shares of Twist Bioscience in a research report on Monday, June 15th. Leerink Partners set a $110.00 target price on Twist Bioscience in a research report on Thursday, July 16th. TD Cowen reissued a "buy" rating on shares of Twist Bioscience in a report on Monday, August 3rd. Finally, Evercore downgraded shares of Twist Bioscience from an "outperform" rating to an "in-line" rating and set a $102.00 price target for the company. in a report on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $98.30.

Twist Bioscience Company Profile

Twist Bioscience Corporation is a synthetic biology company specializing in the development and commercialization of DNA-based products and solutions. Founded in 2013 and headquartered in South San Francisco, California, the company has pioneered a proprietary silicon-based DNA synthesis platform designed for high-throughput production of synthetic genes and oligonucleotides. Twist leverages semiconductor manufacturing techniques to enable precise, scalable synthesis of DNA at speeds and volumes unattainable with traditional methods.

At the core of Twist's offering is its proprietary platform that automates the synthesis of custom DNA fragments, gene libraries, and long oligonucleotides.

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