922,647 Shares in Twist Bioscience Corporation $TWST Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 922,647 Twist Bioscience shares worth approximately $94.9 million, representing about 1.47% of the company. BlackRock and William Blair also established significant new positions during the period.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $103, although ratings range from Sell to Outperform.
• Twist’s quarterly revenue rose 23.2% year over year to $118.4 million, but the company missed EPS expectations and remained unprofitable. The stock opened at $166.99, near its 52-week high, while insiders sold roughly $24.0 million of shares over the past 90 days.

Bank of America Corp DE bought a new stake in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 922,647 shares of the company's stock, valued at approximately $94,922,000. Bank of America Corp DE owned approximately 1.47% of Twist Bioscience at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TWST. BlackRock Inc. acquired a new stake in shares of Twist Bioscience during the 2nd quarter worth about $600,191,000. William Blair Investment Management LLC purchased a new position in shares of Twist Bioscience during the second quarter valued at approximately $223,722,000. Allspring Global Investments Holdings LLC purchased a new stake in Twist Bioscience in the 1st quarter worth approximately $22,563,000. Bank of New York Mellon Corp acquired a new position in Twist Bioscience in the 2nd quarter valued at $19,722,000. Finally, Sei Investments Co. lifted its stake in shares of Twist Bioscience by 31.2% during the 1st quarter. Sei Investments Co. now owns 354,420 shares of the company's stock worth $16,842,000 after purchasing an additional 84,321 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TWST shares. Robert W. Baird lifted their price objective on Twist Bioscience from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Evercore cut 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. Barclays upped their price objective on shares of Twist Bioscience from $65.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Finally, TD Cowen reissued a "buy" rating on shares of Twist Bioscience in a research report on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.00.

Insider Buying and Selling at Twist Bioscience

In other Twist Bioscience news, CFO Adam Laponis sold 2,399 shares of the firm's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $94.33, for a total value of $226,297.67. Following the transaction, the chief financial officer owned 110,276 shares of the company's stock, valued at $10,402,335.08. This trade represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Emily Leproust sold 113,318 shares of Twist Bioscience stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $125.16, for a total value of $14,182,880.88. Following the completion of the transaction, the chief executive officer owned 818,938 shares of the company's stock, valued at approximately $102,498,280.08. The trade was a 12.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 193,109 shares of company stock valued at $24,049,024. Corporate insiders own 3.08% of the company's stock.

Twist Bioscience Stock Up 7.3%

NASDAQ:TWST opened at $166.99 on Friday. The company has a market capitalization of $10.47 billion, a price-to-earnings ratio of -75.22 and a beta of 2.22. Twist Bioscience Corporation has a one year low of $23.30 and a one year high of $167.05. The stock has a 50-day simple moving average of $118.99 and a 200 day simple moving average of $82.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.38 and a current ratio of 2.67.

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

Twist Bioscience Profile

Twist Bioscience Corporation is a biotechnology company that develops and manufactures synthetic DNA using a proprietary silicon-based platform. The company serves researchers and organizations in biotechnology, pharmaceutical development, agriculture, industrial chemicals and academic research.

Its products include synthetic genes, gene fragments, oligonucleotides and DNA libraries used in research, drug discovery, diagnostics development and other applications. Twist also provides next-generation sequencing tools and products, including target-enrichment and sample-preparation solutions, as well as synthetic biology services that support the design and testing of biological systems.

Twist was founded in 2013 and is headquartered in South San Francisco, California.

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