Westpac Banking Corp acquired a new stake in Twist Bioscience Corporation (NASDAQ:TWST – Free Report) during the 2nd quarter, Holdings Channel reports. The fund acquired 6,100 shares of the company’s stock, valued at approximately $628,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TWST. Allworth Financial LP acquired a new position in shares of Twist Bioscience during the second quarter worth about $62,000. Trifecta Capital Advisors LLC acquired a new stake in Twist Bioscience in the 2nd quarter valued at approximately $63,000. Western Wealth Management LLC acquired a new stake in Twist Bioscience in the 1st quarter valued at approximately $31,000. Strs Ohio bought a new stake in Twist Bioscience in the 1st quarter valued at approximately $33,000. Finally, GAMMA Investing LLC lifted its stake in Twist Bioscience by 24.4% in the 2nd quarter. GAMMA Investing LLC now owns 943 shares of the company’s stock valued at $97,000 after acquiring an additional 185 shares in the last quarter.
Insider Transactions at Twist Bioscience
In other Twist Bioscience news, insider Dennis Cho sold 14,205 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was 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. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Emily M. Leproust sold 113,318 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $125.16, for a total value of $14,182,880.88. Following the transaction, the chief executive officer owned 818,938 shares in the company, valued at $102,498,280.08. The trade was a 12.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 151,529 shares of company stock valued at $17,708,772. Company insiders own 3.08% of the company’s stock.
Twist Bioscience Stock Up 6.8%
Twist Bioscience (NASDAQ:TWST – Get Free Report) last announced 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 firm had revenue of $118.38 million for the quarter, compared to the consensus estimate of $114.55 million. Twist Bioscience had a negative return on equity of 28.64% and a negative net margin of 31.66%.Twist Bioscience’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. As a group, analysts expect that Twist Bioscience Corporation will post -2.12 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Twist Bioscience from $65.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Robert W. Baird boosted their price objective on shares of Twist Bioscience from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Canaccord Genuity Group increased their target price on shares of Twist Bioscience from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Twist Bioscience in a report on Wednesday, June 24th. Finally, Piper Sandler raised their target price on shares of Twist Bioscience from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Twist Bioscience currently has an average rating of “Moderate Buy” and a consensus price target of $98.30.
Get Our Latest Analysis on Twist Bioscience
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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