106,712 Shares in Twist Bioscience Corporation $TWST Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new position in shares of Twist Bioscience Corporation (NASDAQ:TWST) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 106,712 shares of the company’s stock, valued at approximately $5,071,000.

A number of other large investors also recently modified their holdings of TWST. William Blair Investment Management LLC raised its holdings in shares of Twist Bioscience by 43.7% in the 4th quarter. William Blair Investment Management LLC now owns 5,954,429 shares of the company’s stock valued at $188,874,000 after purchasing an additional 1,812,146 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in Twist Bioscience by 31.7% in the fourth quarter. EdgePoint Investment Group Inc. now owns 5,377,991 shares of the company’s stock valued at $170,590,000 after buying an additional 1,295,672 shares during the last quarter. Millennium Management LLC increased its holdings in Twist Bioscience by 151.5% in the third quarter. Millennium Management LLC now owns 1,793,850 shares of the company’s stock valued at $50,479,000 after buying an additional 1,080,722 shares during the last quarter. ARK Investment Management LLC raised its stake in Twist Bioscience by 12.4% in the fourth quarter. ARK Investment Management LLC now owns 7,559,495 shares of the company’s stock valued at $239,787,000 after buying an additional 832,687 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Twist Bioscience by 934.0% in the second quarter. Balyasny Asset Management L.P. now owns 628,241 shares of the company’s stock valued at $23,113,000 after buying an additional 567,481 shares in the last quarter.

Insider Transactions at Twist Bioscience

In other Twist Bioscience news, 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 value of $25,410.12. Following the completion of the sale, the senior vice president owned 120,414 shares in the company, valued at approximately $10,514,550.48. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a 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 18,880 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $95.00, for a total value of $1,793,600.00. Following the completion of the sale, the chief executive officer directly owned 824,039 shares of the company’s stock, valued at $78,283,705. The trade was a 2.24% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 50,211 shares of company stock worth $4,199,331. Insiders own 3.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TWST. Barclays upped their price objective on Twist Bioscience from $65.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Canaccord Genuity Group raised their target price on Twist Bioscience from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Robert W. Baird boosted their target price on Twist Bioscience from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Guggenheim upped their price target on Twist Bioscience from $60.00 to $107.00 and gave the company a “buy” rating in a report on Monday, June 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Twist Bioscience in a research note on Wednesday, June 24th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Twist Bioscience has a consensus rating of “Moderate Buy” and an average price target of $90.30.

Twist Bioscience Price Performance

Shares of TWST opened at $88.55 on Wednesday. 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 Corporation has a 1-year low of $23.30 and a 1-year high of $105.47. The stock has a market cap of $5.51 billion, a PE ratio of -66.58 and a beta of 2.11. The firm has a fifty day moving average price of $83.09 and a 200 day moving average price of $61.00.

Twist Bioscience (NASDAQ:TWST) last issued its quarterly earnings data 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). Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.The firm had revenue of $110.72 million for the quarter, compared to analysts’ expectations of $107.64 million. During the same period in the previous year, the business posted ($0.66) EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Twist Bioscience Corporation will post -2.02 EPS for the current year.

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.