ARK Investment Management LLC Acquires 645,730 Shares of Twist Bioscience Corporation (NASDAQ:TWST)

Key Points

• ARK Investment Management LLC has increased its stake in Twist Bioscience Corporation by 11.5%, owning approximately 6.2 million shares worth around $245 million, making it the firm's 11th largest holding.
• Several other large investors have also made significant transactions in Twist Bioscience, including Marshall Wace LLP, which increased its stake by nearly 15,928% during the fourth quarter.
• Twist Bioscience reported a quarterly earnings loss of ($0.66) EPS, which missed analyst expectations, though it achieved revenues of $92.79 million, surpassing projected revenues.

ARK Investment Management LLC boosted its holdings in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,241,595 shares of the company's stock after buying an additional 645,730 shares during the quarter. Twist Bioscience makes up approximately 2.4% of ARK Investment Management LLC's investment portfolio, making the stock its 11th biggest holding. ARK Investment Management LLC owned about 10.46% of Twist Bioscience worth $245,045,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TWST. First Light Asset Management LLC purchased a new stake in shares of Twist Bioscience during the fourth quarter valued at about $56,984,000. Marshall Wace LLP raised its stake in shares of Twist Bioscience by 15,927.8% during the 4th quarter. Marshall Wace LLP now owns 846,107 shares of the company's stock worth $39,319,000 after acquiring an additional 840,828 shares in the last quarter. American Century Companies Inc. lifted its position in Twist Bioscience by 63.5% during the fourth quarter. American Century Companies Inc. now owns 756,352 shares of the company's stock valued at $35,148,000 after acquiring an additional 293,751 shares during the last quarter. Vanguard Group Inc. lifted its position in Twist Bioscience by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 5,807,183 shares of the company's stock valued at $269,860,000 after acquiring an additional 189,791 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Twist Bioscience by 86.0% in the fourth quarter. Renaissance Technologies LLC now owns 398,708 shares of the company's stock valued at $18,528,000 after acquiring an additional 184,398 shares in the last quarter.

Insider Activity

In other Twist Bioscience news, SVP Paula Green sold 1,101 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $37.65, for a total value of $41,452.65. Following the completion of the transaction, the senior vice president directly owned 129,380 shares of the company's stock, valued at approximately $4,871,157. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dennis Cho sold 689 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $37.65, for a total value of $25,940.85. Following the completion of the sale, the insider owned 110,849 shares in the company, valued at approximately $4,173,464.85. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,903 shares of company stock valued at $794,706 over the last 90 days. Company insiders own 3.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TWST. JPMorgan Chase & Co. reduced their price target on Twist Bioscience from $40.00 to $33.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Robert W. Baird dropped their target price on Twist Bioscience from $54.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Barclays reduced their target price on Twist Bioscience from $58.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group lowered their price target on Twist Bioscience from $55.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Guggenheim restated a "buy" rating and set a $50.00 price target on shares of Twist Bioscience in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Twist Bioscience currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.40.

Twist Bioscience Stock Performance

Shares of TWST opened at $35.99 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.24 and a current ratio of 4.51. The stock has a 50-day moving average of $34.13 and a two-hundred day moving average of $39.12. The stock has a market cap of $2.16 billion, a P/E ratio of -11.07 and a beta of 2.41. Twist Bioscience Corporation has a one year low of $27.12 and a one year high of $60.90.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.10). Twist Bioscience had a negative return on equity of 33.48% and a negative net margin of 54.98%. The firm had revenue of $92.79 million during the quarter, compared to analysts' expectations of $92.00 million. As a group, research analysts predict that Twist Bioscience Corporation will post -2.12 EPS for the current year.

About Twist Bioscience

Twist Bioscience Corporation engages in the manufacture and sale of synthetic DNA-based products. The company offers synthetic genes and gene fragments used in product development for therapeutics, diagnostics, chemicals/materials, food/agriculture, data storage, and various applications within academic research by biotech, pharma, industrial chemical, and agricultural companies, as well as academic labs; Oligo pools used in targeted NGS, CRISPR gene editing, mutagenesis experiments, DNA origami, DNA computing, data storage in DNA, and other applications; and immunoglobulin G proteins for customers focused on the pursuit of drug discovery and development.

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