Peregrine Capital Management LLC Trims Stake in Twist Bioscience Corporation $TWST

Peregrine Capital Management LLC lowered its position in Twist Bioscience Corporation (NASDAQ:TWST) by 23.7% in the 1st quarter, Holdings Channel reports. The firm owned 220,079 shares of the company’s stock after selling 68,204 shares during the quarter. Peregrine Capital Management LLC’s holdings in Twist Bioscience were worth $10,458,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TWST. Quarry LP bought a new stake in shares of Twist Bioscience during the 3rd quarter worth approximately $28,000. Strategic Advocates LLC boosted its holdings in Twist Bioscience by 562.7% during the 4th quarter. Strategic Advocates LLC now owns 1,067 shares of the company’s stock valued at $34,000 after acquiring an additional 906 shares during the period. SBI Securities Co. Ltd. grew its position in Twist Bioscience by 68.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company’s stock valued at $44,000 after acquiring an additional 571 shares during the last quarter. Leonteq Securities AG bought a new position in Twist Bioscience in the 4th quarter valued at $48,000. Finally, National Bank of Canada FI purchased a new stake in Twist Bioscience in the third quarter worth $46,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TWST. TD Cowen boosted their target price on shares of Twist Bioscience from $68.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. 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. Canaccord Genuity Group assumed coverage on shares of Twist Bioscience in a research report on Monday, June 15th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Piper Sandler started coverage on shares of Twist Bioscience in a research report on Thursday, June 11th. They issued an “overweight” rating and a $85.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Twist Bioscience currently has an average rating of “Moderate Buy” and an average price target of $79.30.

Twist Bioscience Stock Performance

TWST stock opened at $102.88 on Wednesday. Twist Bioscience Corporation has a 1-year low of $23.30 and a 1-year high of $104.23. The business has a 50-day moving average price of $68.71 and a 200 day moving average price of $52.54. The company has a market capitalization of $6.41 billion, a P/E ratio of -77.35 and a beta of 2.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 2.42.

Twist Bioscience (NASDAQ:TWST) last issued its earnings results on Monday, May 4th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.22). The business had revenue of $110.72 million for the quarter, compared to the consensus estimate of $107.64 million. Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.66) earnings per share. As a group, equities research analysts forecast that Twist Bioscience Corporation will post -2.02 EPS for the current fiscal year.

Insider Transactions at Twist Bioscience

In related news, Director Melissa A. Starovasnik sold 500 shares of Twist Bioscience stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $61.83, for a total transaction of $30,915.00. Following the transaction, the director directly owned 25,222 shares of the company’s stock, valued at $1,559,476.26. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 that occurred on Monday, June 22nd. The stock was sold at an average price of $87.32, for a total transaction of $25,410.12. Following the completion of the transaction, the senior vice president directly owned 120,414 shares of the company’s stock, valued at $10,514,550.48. This trade represents a 0.24% decrease in their position. 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. In the last three months, insiders have sold 67,580 shares of company stock worth $5,169,482. Insiders own 3.08% of the company’s stock.

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.