Allspring Global Investments Holdings LLC Purchases Shares of 455,446 Twist Bioscience Corporation $TWST

Key Points

• Allspring Global Investments initiated a large new position in Twist Bioscience, buying 455,446 shares worth about $22.6 million in the first quarter and representing roughly 0.74% of the company.
• Twist Bioscience reported quarterly revenue of $110.72 million, up 19.3% year over year and slightly above expectations, but earnings missed estimates with EPS of -$0.71 versus the expected -$0.49.
• Wall Street sentiment remains mostly positive: analysts have a Moderate Buy consensus rating with an average target price of $90.30, though some insiders recently sold shares and the stock has already traded up near its 52-week high.

Allspring Global Investments Holdings LLC purchased a new position in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 455,446 shares of the company's stock, valued at approximately $22,563,000. Allspring Global Investments Holdings LLC owned approximately 0.74% of Twist Bioscience as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Quarry LP acquired a new stake in Twist Bioscience in the third quarter worth $28,000. Strs Ohio acquired a new position in shares of Twist Bioscience during the first quarter valued at about $33,000. Strategic Advocates LLC boosted its position in shares of Twist Bioscience by 562.7% during the 4th quarter. Strategic Advocates LLC now owns 1,067 shares of the company's stock worth $34,000 after purchasing an additional 906 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Twist Bioscience by 68.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company's stock worth $44,000 after purchasing an additional 571 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Twist Bioscience in the 3rd quarter valued at about $46,000.

Insider Buying and Selling at Twist Bioscience

In other news, insider Dennis Cho sold 14,205 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total value of $1,274,898.75. Following the completion of the sale, the insider owned 105,141 shares in the company, valued at $9,436,404.75. This represents a 11.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Melissa A. Starovasnik sold 500 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $61.83, for a total transaction of $30,915.00. Following the completion of the sale, the director owned 25,222 shares of the company's stock, valued at approximately $1,559,476.26. This represents a 1.94% decrease in their position. 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 quarter, insiders sold 58,772 shares of company stock worth $4,756,549. 3.08% of the stock is currently owned by insiders.

Twist Bioscience Price Performance

TWST stock opened at $87.45 on Tuesday. The company has a market capitalization of $5.45 billion, a P/E ratio of -65.75 and a beta of 2.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.42 and a current ratio of 2.70. Twist Bioscience Corporation has a 52-week low of $23.30 and a 52-week high of $105.47. The business has a 50-day simple moving average of $78.37 and a two-hundred day simple moving average of $58.58.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.22). Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.The company had revenue of $110.72 million during the quarter, compared to analysts' expectations of $107.64 million. During the same period last year, the company earned ($0.66) earnings per share. The business's revenue for the quarter was up 19.3% compared to the same quarter last year. Research analysts expect that Twist Bioscience Corporation will post -2.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TWST. UBS Group set a $89.00 target price on Twist Bioscience in a research report on Monday, June 15th. TD Cowen raised their price objective on Twist Bioscience from $68.00 to $89.00 and gave the company a "buy" rating in a research note on Monday, June 15th. Guggenheim boosted their price objective on Twist Bioscience from $60.00 to $107.00 and gave the company a "buy" rating in a report on Monday, June 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Twist Bioscience in a report on Wednesday, June 24th. Finally, Leerink Partners set a $110.00 target price on Twist Bioscience in a research report on Thursday. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Twist Bioscience has an average rating of "Moderate Buy" and an average target price of $90.30.

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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