Amova Asset Management Americas Inc. Sells 406,730 Shares of Twist Bioscience Corporation $TWST

Amova Asset Management Americas Inc. lessened its holdings in shares of Twist Bioscience Corporation (NASDAQ:TWST) by 21.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,496,099 shares of the company’s stock after selling 406,730 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Twist Bioscience were worth $71,095,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in Twist Bioscience in the first quarter worth approximately $22,563,000. Emerald Mutual Fund Advisers Trust bought a new stake in Twist Bioscience in the first quarter worth $848,000. Principal Financial Group Inc. acquired a new position in Twist Bioscience during the first quarter worth $5,071,000. Fifth Third Bancorp bought a new position in Twist Bioscience during the first quarter valued at about $54,000. Finally, Abel Hall LLC bought a new position in Twist Bioscience during the first quarter valued at about $238,000.

Insider Transactions at Twist Bioscience

In related 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 completion of the transaction, the insider directly owned 105,141 shares in the company, valued at approximately $9,436,404.75. This represents a 11.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jan Johannessen sold 12,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.12, for a total value of $673,440.00. Following the completion of the transaction, the director directly owned 17,754 shares of the company’s stock, valued at approximately $996,354.48. This trade represents a 40.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 58,772 shares of company stock worth $4,756,549. 3.08% of the stock is currently owned by company insiders.

Twist Bioscience Price Performance

NASDAQ:TWST opened at $87.45 on Tuesday. 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 one year low of $23.30 and a one year high of $105.47. The company has a fifty day moving average price of $78.37 and a 200 day moving average price of $58.58. The stock has a market cap of $5.45 billion, a P/E ratio of -65.75 and a beta of 2.11.

Twist Bioscience (NASDAQ:TWST) last posted 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 company had revenue of $110.72 million for the quarter, compared to the consensus estimate of $107.64 million. During the same quarter in the previous year, the firm posted ($0.66) EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts anticipate that Twist Bioscience Corporation will post -2.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TWST shares. Evercore downgraded Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price target for the company. in a research note on Monday, July 6th. 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 report on Tuesday, May 5th. Canaccord Genuity Group upped 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. TD Cowen increased their price target on Twist Bioscience from $68.00 to $89.00 and gave the company a “buy” rating in a report on Monday, June 15th. Finally, UBS Group set a $89.00 price target on shares of Twist Bioscience in a research report on Monday, June 15th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.30.

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.