California State Teachers Retirement System Boosts Position in Twist Bioscience Corporation $TWST

Key Points

• California State Teachers Retirement System dramatically increased its Twist Bioscience stake by 10,945.7% in the second quarter, acquiring 7.7 million additional shares. It now owns approximately 12.39% of TWST, valued at about $799.4 million.
• Twist Bioscience reported quarterly revenue of $118.38 million, up 23.2% year over year and above estimates, but missed earnings expectations with a loss of $0.56 per share. Analysts expect a full-year loss of approximately $2.12 per share.
• Wall Street maintains a “Moderate Buy” consensus on TWST, with eight Buy, two Hold and two Sell ratings; the average price target is $98.45. The stock recently traded at $127.22, well above its 200-day moving average of $79.55.

California State Teachers Retirement System lifted its holdings in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 10,945.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,770,424 shares of the company's stock after acquiring an additional 7,700,076 shares during the quarter. California State Teachers Retirement System owned approximately 12.39% of Twist Bioscience worth $799,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TWST. ARK Investment Management LLC lifted its position in shares of Twist Bioscience by 12.4% in the 4th quarter. ARK Investment Management LLC now owns 7,559,495 shares of the company's stock worth $239,787,000 after purchasing an additional 832,687 shares during the period. William Blair Investment Management LLC lifted its holdings in Twist Bioscience by 43.7% in the fourth quarter. William Blair Investment Management LLC now owns 5,954,429 shares of the company's stock worth $188,874,000 after buying an additional 1,812,146 shares during the period. BlackRock Inc. bought a new stake in Twist Bioscience during the 2nd quarter valued at approximately $600,191,000. EdgePoint Investment Group Inc. boosted its position in Twist Bioscience by 31.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 5,377,991 shares of the company's stock valued at $170,590,000 after acquiring an additional 1,295,672 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Twist Bioscience by 17.4% during the 4th quarter. State Street Corp now owns 3,627,818 shares of the company's stock worth $115,074,000 after acquiring an additional 538,755 shares during the period.

Twist Bioscience Price Performance

TWST stock opened at $127.22 on Monday. Twist Bioscience Corporation has a 1-year low of $23.30 and a 1-year high of $155.44. The business has a fifty day moving average price of $113.51 and a 200-day moving average price of $79.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.38. The stock has a market capitalization of $7.98 billion, a P/E ratio of -57.31 and a beta of 2.22.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last posted its 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 company had revenue of $118.38 million for the quarter, compared to the consensus estimate of $114.55 million. Twist Bioscience had a negative net margin of 31.66% and a negative return on equity of 28.64%. Twist Bioscience's revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 EPS. Equities analysts forecast that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Twist Bioscience

In other Twist Bioscience news, insider Dennis Cho sold 412 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $122.62, for a total transaction of $50,519.44. Following the completion of the sale, the insider directly owned 73,651 shares of the company's stock, valued at approximately $9,031,085.62. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Paula Green sold 291 shares of Twist Bioscience stock in a transaction on 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 owned 120,414 shares in the company, valued at $10,514,550.48. This trade represents a 0.24% decrease in their ownership of the stock. 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. Insiders sold 193,109 shares of company stock worth $24,049,024 over the last 90 days. 3.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TWST shares. UBS Group assumed coverage on shares of Twist Bioscience in a research report on Wednesday, September 9th. They set a "neutral" rating and a $144.00 price target for the company. Canaccord Genuity Group lifted their target price on shares of Twist Bioscience from $90.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Guggenheim reissued a "buy" rating on shares of Twist Bioscience in a research report on Monday, August 24th. Piper Sandler upped their price target on Twist Bioscience from $85.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Finally, Leerink Partners set a $110.00 price objective on Twist Bioscience in a research report on Thursday, July 16th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.45.

Twist Bioscience Profile

Twist Bioscience Corporation is a biotechnology company that develops and manufactures synthetic DNA using a proprietary silicon-based platform. The company serves researchers and organizations in biotechnology, pharmaceutical development, agriculture, industrial chemicals and academic research.

Its products include synthetic genes, gene fragments, oligonucleotides and DNA libraries used in research, drug discovery, diagnostics development and other applications. Twist also provides next-generation sequencing tools and products, including target-enrichment and sample-preparation solutions, as well as synthetic biology services that support the design and testing of biological systems.

Twist was founded in 2013 and is headquartered in South San Francisco, California.

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