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

Key Points

• California State Teachers Retirement System increased its Twist Bioscience stake by 20.6% in the first quarter, bringing its holdings to 70,348 shares valued at approximately $3.34 million. Several other institutional investors also expanded their positions.
• Analysts remain broadly positive, with eight Buy ratings and a consensus “Moderate Buy” rating. The average price target is $98.30, while recent targets range as high as $120.
• Twist Bioscience reported quarterly revenue of $118.38 million, up 23.2% year over year and above expectations, but its adjusted loss of $0.56 per share missed estimates. The stock opened at $115.67, near its 52-week high of $118.32.

California State Teachers Retirement System lifted its holdings in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,348 shares of the company's stock after buying an additional 12,011 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Twist Bioscience worth $3,343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. William Blair Investment Management LLC raised its position in Twist Bioscience by 43.7% during the fourth quarter. William Blair Investment Management LLC now owns 5,954,429 shares of the company's stock worth $188,874,000 after acquiring an additional 1,812,146 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Twist Bioscience by 31.7% during the fourth quarter. EdgePoint Investment Group Inc. now owns 5,377,991 shares of the company's stock worth $170,590,000 after purchasing an additional 1,295,672 shares in the last quarter. Millennium Management LLC raised its position in shares of Twist Bioscience by 151.5% during the 3rd quarter. Millennium Management LLC now owns 1,793,850 shares of the company's stock worth $50,479,000 after purchasing an additional 1,080,722 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Twist Bioscience by 12.4% during 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 last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in Twist Bioscience by 934.0% in the 2nd quarter. Balyasny Asset Management L.P. now owns 628,241 shares of the company's stock valued at $23,113,000 after buying an additional 567,481 shares in the last quarter.

Insider Activity at Twist Bioscience

In other Twist Bioscience news, CFO Adam Laponis sold 2,399 shares of Twist Bioscience stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $94.33, for a total transaction of $226,297.67. Following the transaction, the chief financial officer directly owned 110,276 shares of the company's stock, valued at $10,402,335.08. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, insider Dennis Cho sold 14,205 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 105,141 shares of the company's stock, valued at approximately $9,436,404.75. This trade represents a 11.90% 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. Insiders sold 50,211 shares of company stock valued at $4,199,331 over the last ninety days. Corporate insiders own 3.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on TWST. Canaccord Genuity Group boosted their price objective on Twist Bioscience from $90.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Barclays raised their target price on Twist Bioscience from $65.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Robert W. Baird boosted 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. TD Cowen reissued a "buy" rating on shares of Twist Bioscience in a research note on Monday, August 3rd. Finally, Leerink Partners set a $110.00 price target on shares of Twist Bioscience in a research report on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.30.

Twist Bioscience Price Performance

Shares of NASDAQ:TWST opened at $115.67 on Monday. Twist Bioscience Corporation has a 52-week low of $23.30 and a 52-week high of $118.32. The stock has a market cap of $7.25 billion, a P/E ratio of -52.10 and a beta of 2.14. The business has a fifty day moving average of $89.29 and a two-hundred day moving average of $64.50. 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 (NASDAQ:TWST - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.56) 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 analysts' expectations of $114.55 million. Twist Bioscience had a negative return on equity of 28.64% and a negative net margin of 31.66%.The firm's revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, research analysts expect that Twist Bioscience Corporation will post -2.12 earnings per share for the current 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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