Engineers Gate Manager LP Takes $3.33 Million Position in Twist Bioscience Corporation $TWST

Key Points

• Engineers Gate Manager LP purchased 32,397 shares of Twist Bioscience, valued at approximately $3.33 million, giving it a 0.05% stake.
• Analyst sentiment is mixed but leans positive: eight analysts rate the stock Buy, two Hold, and two Sell, resulting in a “Moderate Buy” consensus and an average price target of $98.45.
• Twist reported 23.2% year-over-year revenue growth to $118.38 million, though it missed quarterly EPS estimates and remains unprofitable; shares opened at $127.22, near the upper end of their 12-month range.

Engineers Gate Manager LP acquired a new position in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 32,397 shares of the company's stock, valued at approximately $3,333,000. Engineers Gate Manager LP owned 0.05% of Twist Bioscience at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP bought a new stake in Twist Bioscience during the third quarter valued at about $28,000. Western Wealth Management LLC bought a new position in shares of Twist Bioscience in the first quarter worth about $31,000. Strs Ohio acquired a new position in shares of Twist Bioscience during the 1st quarter worth about $33,000. Strategic Advocates LLC lifted its position in shares of 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 during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Twist Bioscience by 89.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 958 shares of the company's stock valued at $46,000 after purchasing an additional 453 shares during the period.

Insider Buying and Selling at Twist Bioscience

In other news, SVP Paula Green sold 291 shares of Twist Bioscience stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $87.32, for a total transaction of $25,410.12. Following the sale, the senior vice president directly owned 120,414 shares in the company, valued at approximately $10,514,550.48. The trade was 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, CEO Emily Leproust sold 41,570 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $151.98, for a total transaction of $6,317,808.60. Following the completion of the sale, the chief executive officer directly owned 770,729 shares in the company, valued at approximately $117,135,393.42. The trade was a 5.12% 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. Over the last quarter, insiders sold 193,109 shares of company stock worth $24,049,024. Corporate insiders own 3.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TWST. Evercore downgraded Twist Bioscience from an "outperform" rating to an "in-line" rating and set a $102.00 price target on the stock. in a research report on Monday, July 6th. Robert W. Baird increased their price objective on Twist Bioscience from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. TD Cowen restated a "buy" rating on shares of Twist Bioscience in a research note on Monday, August 3rd. 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 target price on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Eight research 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, the company presently has an average rating of "Moderate Buy" and an average target price of $98.45.

Twist Bioscience Price Performance

Shares of TWST stock opened at $127.22 on Monday. The stock has a 50 day moving average of $113.51 and a two-hundred day moving average of $79.55. 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 12 month low of $23.30 and a 12 month high of $155.44. The company 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 released its quarterly earnings data on Monday, August 3rd. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.05). The firm 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%. The business's revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, equities analysts expect that Twist Bioscience Corporation will post -2.12 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.