E. Ohman J or Asset Management AB Makes New Investment in Twist Bioscience Corporation $TWST

Key Points

• E. Ohman J or Asset Management AB initiated a position in Twist Bioscience, purchasing 8,287 shares valued at approximately $853,000. Other major institutional investors, including ARK Investment Management and Millennium Management, also increased their holdings.
• Analysts maintain a generally positive outlook, with eight Buy ratings and a consensus rating of “Moderate Buy”; the average price target is $98.30, below the stock’s reported $123.12 opening price.
• Twist Bioscience 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 expectations of a $0.51 loss. Insiders have sold 38,211 shares worth about $3.5 million over the past three months.

E. Ohman J or Asset Management AB purchased 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 & Exchange Commission. The institutional investor purchased 8,287 shares of the company's stock, valued at approximately $853,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ARK Investment Management LLC grew its holdings in shares of Twist Bioscience by 12.4% in the fourth quarter. ARK Investment Management LLC now owns 7,559,495 shares of the company's stock valued at $239,787,000 after purchasing an additional 832,687 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Twist Bioscience by 43.7% during the 4th 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 in the last quarter. EdgePoint Investment Group Inc. lifted its holdings 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 worth $170,590,000 after buying an additional 1,295,672 shares in the last quarter. State Street Corp boosted its position in Twist Bioscience by 17.4% in the 4th quarter. State Street Corp now owns 3,627,818 shares of the company's stock valued at $115,074,000 after buying an additional 538,755 shares during the period. Finally, Millennium Management LLC boosted its position in Twist Bioscience by 151.5% in the 3rd quarter. Millennium Management LLC now owns 1,793,850 shares of the company's stock valued at $50,479,000 after buying an additional 1,080,722 shares during the period.

Analyst Ratings Changes

Several research firms have commented on TWST. TD Cowen restated a "buy" rating on shares of Twist Bioscience in a research note on Monday, August 3rd. Leerink Partners set a $110.00 price objective on Twist Bioscience in a research note on Thursday, July 16th. Evercore lowered Twist Bioscience from an "outperform" rating to an "in-line" rating and set a $102.00 target price for the company. in a report on Monday, July 6th. Guggenheim boosted their target price on Twist Bioscience from $60.00 to $107.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Finally, Robert W. Baird upped their price target on Twist Bioscience from $113.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.30.

Twist Bioscience Stock Down 1.4%

Shares of NASDAQ:TWST opened at $123.12 on Wednesday. Twist Bioscience Corporation has a fifty-two week low of $23.30 and a fifty-two week high of $125.66. The firm's 50 day moving average price is $91.49 and its 200 day moving average price is $65.64. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of -55.46 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) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.05). Twist Bioscience had a negative return on equity of 28.64% and a negative net margin of 31.66%.The firm had revenue of $118.38 million for the quarter, compared to analyst estimates of $114.55 million. During the same quarter last year, the firm earned $0.33 EPS. The company's revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts predict that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Paula Green sold 291 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $87.32, for a total transaction of $25,410.12. Following the sale, the senior vice president owned 120,414 shares of the company's stock, valued at approximately $10,514,550.48. This trade represents a 0.24% decrease in their position. The sale was disclosed in a legal 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, insider Dennis Cho sold 14,205 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $89.75, for a total transaction of $1,274,898.75. Following the sale, the insider directly owned 105,141 shares in the company, valued at approximately $9,436,404.75. The trade was a 11.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 38,211 shares of company stock worth $3,525,891. 3.08% of the stock is currently owned by company insiders.

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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