Bank of New York Mellon Corp Invests $19.72 Million in Twist Bioscience Corporation $TWST

Key Points

• Bank of New York Mellon purchased 191,698 shares of Twist Bioscience in the second quarter, valued at approximately $19.72 million and representing about 0.31% of the company.
• Analyst sentiment is generally positive, with eight Buy ratings, one Hold and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $98.30.
• Twist reported quarterly revenue of $118.38 million, up 23.2% year over year, but missed the EPS estimate with a loss of $0.56 per share. Shares opened at $141.38, near their 52-week high, while insiders sold approximately $24.03 million of stock over the past 90 days.

Bank of New York Mellon Corp purchased a new stake in Twist Bioscience Corporation (NASDAQ:TWST - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 191,698 shares of the company's stock, valued at approximately $19,722,000. Bank of New York Mellon Corp owned about 0.31% of Twist Bioscience at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TWST. Royal Bank of Canada increased its stake in Twist Bioscience by 11.8% in the first quarter. Royal Bank of Canada now owns 40,373 shares of the company's stock valued at $1,585,000 after purchasing an additional 4,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Twist Bioscience by 4.7% in 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 buying an additional 3,181 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Twist Bioscience by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 932,978 shares of the company's stock valued at $36,629,000 after buying an additional 37,577 shares during the period. Intech Investment Management LLC increased its position 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 buying an additional 4,591 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Twist Bioscience in the 2nd quarter valued at $737,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays boosted their target price on Twist Bioscience from $65.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Robert W. Baird raised their price target on Twist Bioscience from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. Canaccord Genuity Group lifted their price objective on Twist Bioscience from $90.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. TD Cowen reiterated a "buy" rating on shares of Twist Bioscience in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Twist Bioscience in a research report on Wednesday, June 24th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $98.30.

Insider Buying and Selling

In other news, SVP Paula Green sold 291 shares of Twist Bioscience stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $87.32, for a total value 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 trade represents a 0.24% decrease in their position. 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 M. Leproust sold 41,570 shares of Twist Bioscience stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $151.98, for a total value of $6,317,808.60. Following the transaction, the chief executive officer owned 770,729 shares of the company's stock, valued at $117,135,393.42. This represents a 5.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 193,099 shares of company stock worth $24,026,581. Insiders own 3.08% of the company's stock.

Twist Bioscience Price Performance

Shares of NASDAQ TWST opened at $141.38 on Monday. The firm has a market cap of $8.87 billion, a PE ratio of -63.68 and a beta of 2.14. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03. Twist Bioscience Corporation has a 1-year low of $23.30 and a 1-year high of $155.44. The company has a fifty day moving average price of $106.95 and a 200 day moving average price of $74.01.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last released its quarterly earnings results 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 during 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 business's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. Research analysts predict that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

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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