Twist Bioscience Corporation $TWST Shares Sold by First Light Asset Management LLC

First Light Asset Management LLC cut its holdings in Twist Bioscience Corporation (NASDAQ:TWST) by 17.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 727,933 shares of the company’s stock after selling 150,915 shares during the period. Twist Bioscience comprises approximately 4.6% of First Light Asset Management LLC’s holdings, making the stock its 6th largest position. First Light Asset Management LLC’s holdings in Twist Bioscience were worth $74,890,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. E. Ohman J or Asset Management AB acquired a new stake in Twist Bioscience during the second quarter worth approximately $853,000. Allspring Global Investments Holdings LLC bought a new stake in Twist Bioscience in the first quarter worth approximately $22,563,000. Bank of America Corp DE lifted its stake in Twist Bioscience by 46.3% in the first quarter. Bank of America Corp DE now owns 584,261 shares of the company’s stock valued at $27,764,000 after buying an additional 184,907 shares during the period. Deutsche Bank AG acquired a new position in Twist Bioscience in the second quarter valued at approximately $9,265,000. Finally, First Trust Advisors LP bought a new position in shares of Twist Bioscience during the 1st quarter worth approximately $4,973,000.

Twist Bioscience Stock Down 2.0%

Shares of NASDAQ:TWST opened at $125.52 on Thursday. 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 52-week low of $23.30 and a 52-week high of $155.44. The business’s 50 day simple moving average is $112.40 and its two-hundred day simple moving average is $78.44. The firm has a market cap of $7.87 billion, a P/E ratio of -56.54 and a beta of 2.22.

Twist Bioscience (NASDAQ:TWST) last released its quarterly earnings data 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 net margin of 31.66% and a negative return on equity of 28.64%. The firm had revenue of $118.38 million for the quarter, compared to the consensus estimate of $114.55 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts forecast that Twist Bioscience Corporation will post -2.12 EPS for the current fiscal year.

Insider Buying and Selling at Twist Bioscience

In other Twist Bioscience news, insider Dennis Cho sold 14,205 shares of the business’s stock in a transaction 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 document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Emily M. Leproust sold 41,570 shares of the company’s stock in a transaction 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. The trade was a 5.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 192,697 shares of company stock worth $23,998,505. 3.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Twist Bioscience from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Barclays boosted their target price on shares of Twist Bioscience from $65.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Robert W. Baird raised their price target on shares of Twist Bioscience from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Twist Bioscience in a research note on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Twist Bioscience has an average rating of “Moderate Buy” and an average price target of $98.45.

Twist Bioscience 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.