Corient Private Wealth LP Invests $2.23 Million in Twist Bioscience Corporation $TWST

Key Points

• Corient Private Wealth LP purchased 21,636 shares of Twist Bioscience worth approximately $2.23 million during the second quarter, while several other investment firms also initiated or increased positions.
• Twist reported quarterly revenue of $118.38 million, up 23.2% year over year and above estimates, but its adjusted loss of $0.56 per share missed consensus expectations. Analysts expect the company to post a full-year loss of $2.12 per share.
• TWST shares opened at $131, well above their 50-day and 200-day moving averages, while insiders sold about 193,099 shares worth $24.0 million over the past 90 days. Wall Street’s overall rating remains “Moderate Buy,” with an average price target of $98.30.

Corient Private Wealth LP purchased a new position in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 21,636 shares of the company's stock, valued at approximately $2,226,000.

A number of other hedge funds also recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Twist Bioscience in the 3rd quarter valued at about $28,000. Western Wealth Management LLC acquired a new stake in Twist Bioscience during the 1st quarter worth approximately $31,000. Strs Ohio acquired a new stake in Twist Bioscience during the 1st quarter worth approximately $33,000. Strategic Advocates LLC increased its position in Twist Bioscience by 562.7% during 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. raised its holdings in Twist Bioscience by 68.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company's stock valued at $44,000 after buying an additional 571 shares during the period.

Twist Bioscience Price Performance

Shares of TWST opened at $131.00 on Thursday. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of -59.01 and a beta of 2.22. The stock has a 50 day moving average of $109.76 and a 200-day moving average of $75.81. 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 52 week low of $23.30 and a 52 week high of $155.44.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last issued its 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 business had revenue of $118.38 million for 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 firm's revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share. As a group, analysts forecast that Twist Bioscience Corporation will post -2.12 EPS for the current year.

Insiders Place Their Bets

In other Twist Bioscience news, CFO Adam Laponis sold 2,399 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $94.33, for a total transaction of $226,297.67. Following the completion of the transaction, the chief financial officer directly owned 110,276 shares of the company's stock, valued at approximately $10,402,335.08. This trade represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total value 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 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. In the last ninety days, insiders have sold 193,099 shares of company stock valued at $24,026,581. Corporate insiders own 3.08% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TWST shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Twist Bioscience in a research report on Wednesday, June 24th. Evercore lowered Twist Bioscience from an "outperform" rating to an "in-line" rating and set a $102.00 price objective on the stock. in a research report on Monday, July 6th. TD Cowen restated a "buy" rating on shares of Twist Bioscience in a research note on Monday, August 3rd. Guggenheim reaffirmed a "buy" rating on shares of Twist Bioscience in a research report on Monday, August 24th. Finally, Robert W. Baird increased their target price on Twist Bioscience from $113.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.30.

About Twist Bioscience

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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