BlackRock Inc. Invests $600.19 Million in Twist Bioscience Corporation $TWST

Key Points

• BlackRock acquired a major stake in Twist Bioscience during the second quarter, purchasing 5.83 million shares worth approximately $600.2 million and representing about 9.3% of the company.
• Twist Bioscience reported quarterly revenue of $118.4 million, up 23.2% year over year and above estimates, but its adjusted loss of $0.56 per share was wider than analysts expected.
• The stock opened at $145.59, near its 12-month high of $145.93, despite a consensus analyst price target of $98.30. Analysts maintain a “Moderate Buy” consensus, while insiders have sold roughly $17.7 million of shares over the past 90 days.

BlackRock Inc. bought a new position in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,833,891 shares of the company's stock, valued at approximately $600,191,000. BlackRock Inc. owned approximately 9.30% of Twist Bioscience at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TWST. Quarry LP acquired a new position in Twist Bioscience during the third quarter worth about $28,000. Western Wealth Management LLC acquired a new position in shares of Twist Bioscience in the 1st quarter worth approximately $31,000. Strs Ohio bought a new stake in shares of Twist Bioscience in the 1st quarter worth approximately $33,000. Strategic Advocates LLC raised its holdings in shares of Twist Bioscience by 562.7% in 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. Finally, SBI Securities Co. Ltd. lifted its stake in Twist Bioscience by 68.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company's stock valued at $44,000 after purchasing an additional 571 shares during the last quarter.

Insider Transactions at Twist Bioscience

In other Twist Bioscience news, insider Dennis Cho sold 14,205 shares of the stock in a transaction on 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 transaction, the insider directly owned 105,141 shares of the company's stock, valued at $9,436,404.75. This represents a 11.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 value of $25,410.12. Following the transaction, the senior vice president directly owned 120,414 shares in the company, valued at approximately $10,514,550.48. This represents a 0.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 151,529 shares of company stock worth $17,708,772. 3.08% of the stock is owned by corporate insiders.

Twist Bioscience Stock Performance

Shares of NASDAQ:TWST opened at $145.59 on Monday. The firm has a fifty day moving average of $100.69 and a two-hundred day moving average of $70.50. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. Twist Bioscience Corporation has a 12-month low of $23.30 and a 12-month high of $145.93. The firm has a market capitalization of $9.13 billion, a P/E ratio of -65.58 and a beta of 2.14.

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

Wall Street Analysts Forecast Growth

TWST has been the subject of a number of research reports. Robert W. Baird raised their target price on shares of Twist Bioscience from $113.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Guggenheim raised their price objective on Twist Bioscience from $60.00 to $107.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Leerink Partners set a $110.00 target price on Twist Bioscience in a report on Thursday, July 16th. UBS Group set a $89.00 target price on Twist Bioscience in a research report on Monday, June 15th. Finally, Barclays upped their target price on Twist Bioscience from $65.00 to $95.00 and gave the company an "overweight" rating in a 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Twist Bioscience has a consensus rating of "Moderate Buy" and a consensus price target of $98.30.

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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