Allianz Asset Management GmbH Buys New Position in Twist Bioscience Corporation $TWST

Key Points

• Allianz Asset Management acquired 12,900 shares of Twist Bioscience in the second quarter, worth approximately $1.33 million. Other institutions, including Bank of America, Deutsche Bank and Allspring Global Investments, also increased or initiated positions.
• Analyst sentiment is mixed but leans positive: eight analysts rate the stock a Buy, two rate it Hold and two rate it Sell. The consensus rating is “Moderate Buy,” with an average price target of $98.45.
• Twist reported quarterly revenue of $118.38 million, up 23.2% year over year and above estimates, but posted an adjusted loss of $0.56 per share versus the expected $0.51 loss. Shares opened at $125.52, while insiders sold nearly $24 million of stock over the past three months.

Allianz Asset Management GmbH acquired a new stake in Twist Bioscience Corporation (NASDAQ:TWST - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,900 shares of the company's stock, valued at approximately $1,327,000.

Several other institutional investors and hedge funds have also made changes to their positions in TWST. E. Ohman J or Asset Management AB acquired a new stake in Twist Bioscience in the second quarter valued at $853,000. Allspring Global Investments Holdings LLC acquired a new position in Twist Bioscience during the 1st quarter worth $22,563,000. Bank of America Corp DE increased its position in shares of Twist Bioscience by 46.3% in the 1st quarter. Bank of America Corp DE now owns 584,261 shares of the company's stock worth $27,764,000 after purchasing an additional 184,907 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Twist Bioscience in the 2nd quarter worth about $9,265,000. Finally, First Trust Advisors LP bought a new stake in shares of Twist Bioscience in the 1st quarter worth about $4,973,000.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TWST shares. Guggenheim reissued a "buy" rating on shares of Twist Bioscience in a report on Monday, August 24th. BWS Financial initiated coverage on Twist Bioscience in a research report on Wednesday. They issued a "sell" rating and a $45.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Twist Bioscience in a report on Wednesday, June 24th. Leerink Partners set a $110.00 price target on Twist Bioscience in a report on Thursday, July 16th. Finally, Robert W. Baird upped their price target on Twist Bioscience from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $98.45.

Twist Bioscience Stock Performance

Shares of TWST opened at $125.52 on Thursday. The firm has a fifty day moving average of $112.40 and a 200-day moving average of $78.44. The company has a market cap of $7.87 billion, a price-to-earnings ratio of -56.54 and a beta of 2.22. 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 Corporation has a 1 year low of $23.30 and a 1 year high of $155.44.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $118.38 million during the quarter, compared to the consensus estimate of $114.55 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts anticipate that Twist Bioscience Corporation will post -2.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Dennis Cho sold 14,205 shares of Twist Bioscience stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total transaction of $1,274,898.75. Following the sale, the insider directly owned 105,141 shares in the company, valued at $9,436,404.75. The trade was a 11.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Paula Green sold 291 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $87.32, for a total transaction of $25,410.12. Following the completion of the transaction, the senior vice president owned 120,414 shares of the company's stock, valued at $10,514,550.48. This represents a 0.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 192,697 shares of company stock valued at $23,998,505 over the last three months. 3.08% of the stock is currently owned by company insiders.

Twist Bioscience 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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