Wellington Management Group LLP Reduces Stake in Twist Bioscience Corporation $TWST

Wellington Management Group LLP reduced its position in shares of Twist Bioscience Corporation (NASDAQ:TWST) by 23.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 568,347 shares of the company’s stock after selling 170,282 shares during the quarter. Wellington Management Group LLP’s holdings in Twist Bioscience were worth $58,472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TWST. GAMMA Investing LLC lifted its holdings in shares of Twist Bioscience by 24.4% in the 2nd quarter. GAMMA Investing LLC now owns 943 shares of the company’s stock worth $97,000 after acquiring an additional 185 shares during the last quarter. Stifel Financial Corp raised its position in Twist Bioscience by 3.6% in the 4th quarter. Stifel Financial Corp now owns 7,769 shares of the company’s stock valued at $246,000 after purchasing an additional 271 shares in the last quarter. CWM LLC boosted its stake in shares of Twist Bioscience by 9.4% in the 4th quarter. CWM LLC now owns 4,738 shares of the company’s stock valued at $150,000 after buying an additional 407 shares during the period. California State Teachers Retirement System boosted its stake in shares of Twist Bioscience by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 54,187 shares of the company’s stock valued at $1,994,000 after buying an additional 442 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Twist Bioscience by 89.7% during the first quarter. PNC Financial Services Group Inc. now owns 958 shares of the company’s stock worth $46,000 after buying an additional 453 shares in the last quarter.

Insider Transactions at Twist Bioscience

In other news, CFO Adam Laponis sold 2,399 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $94.33, for a total value of $226,297.67. Following the completion of the sale, the chief financial officer directly owned 110,276 shares of the company’s stock, valued at approximately $10,402,335.08. This represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Emily M. Leproust sold 41,570 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $151.98, for a total transaction of $6,317,808.60. Following the transaction, the chief executive officer owned 770,729 shares in the company, valued at approximately $117,135,393.42. This trade represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 193,099 shares of company stock worth $24,026,581 in the last three months. Corporate insiders own 3.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TWST shares. TD Cowen restated a “buy” rating on shares of Twist Bioscience in a research note on Monday, August 3rd. Barclays boosted their price target on shares of Twist Bioscience from $65.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Robert W. Baird increased their price objective on shares of Twist Bioscience from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Evercore downgraded shares of Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 target price for the company. in a research note on Monday, July 6th. Finally, UBS Group set a $89.00 price target on Twist Bioscience in a research note on Monday, June 15th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Twist Bioscience has an average rating of “Moderate Buy” and a consensus price target of $98.30.

Twist Bioscience Stock Performance

Shares of TWST stock opened at $128.71 on Friday. The stock’s 50-day moving average is $110.41 and its two-hundred day moving average is $76.37. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.38 and a current ratio of 2.67. Twist Bioscience Corporation has a 1 year low of $23.30 and a 1 year high of $155.44. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of -57.98 and a beta of 2.22.

Twist Bioscience (NASDAQ:TWST) last announced its earnings results 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 during the quarter, compared to analyst estimates of $114.55 million. Twist Bioscience had a negative net margin of 31.66% and a negative return on equity of 28.64%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Analysts predict that Twist Bioscience Corporation will post -2.12 earnings per share for the current year.

Twist Bioscience Company 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.