Man Group plc Invests $6 Million in Twist Bioscience Corporation $TWST

Man Group plc acquired a new position in shares of Twist Bioscience Corporation (NASDAQ:TWST) in the 2nd quarter, HoldingsChannel reports. The firm acquired 58,295 shares of the company’s stock, valued at approximately $5,997,000.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in Twist Bioscience in the 3rd quarter valued at $28,000. Western Wealth Management LLC acquired a new stake in Twist Bioscience during the 1st quarter worth $31,000. Strs Ohio purchased a new stake in shares of Twist Bioscience during the first quarter worth $33,000. Strategic Advocates LLC grew its holdings in shares of Twist Bioscience by 562.7% during the fourth quarter. Strategic Advocates LLC now owns 1,067 shares of the company’s stock worth $34,000 after buying an additional 906 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of 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 last quarter.

Twist Bioscience Trading Down 7.7%

NASDAQ TWST opened at $141.38 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.38 and a current ratio of 2.67. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of -63.68 and a beta of 2.14. The firm has a 50 day simple moving average of $106.95 and a 200-day simple moving average of $73.82. Twist Bioscience Corporation has a one year low of $23.30 and a one year high of $155.44.

Twist Bioscience (NASDAQ:TWST) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.05). The company had revenue of $118.38 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. Equities research analysts anticipate that Twist Bioscience Corporation will post -2.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dennis Cho sold 14,205 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total transaction of $1,274,898.75. Following the completion of the sale, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Paula Green sold 291 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $87.32, for a total transaction of $25,410.12. Following the completion of the sale, the senior vice president directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 193,099 shares of company stock worth $24,026,581 in the last three months. 3.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TWST. TD Cowen restated a “buy” rating on shares of Twist Bioscience in a report on Monday, August 3rd. UBS Group set a $89.00 target price on Twist Bioscience in a research note on Monday, June 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Twist Bioscience in a report on Wednesday, June 24th. Robert W. Baird upped their price objective on shares of Twist Bioscience from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Finally, Piper Sandler raised their price objective on shares of Twist Bioscience from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.