William Blair Small Cap Growth Fund on Twist Bioscience Corp.
Thesis
Twist Bioscience uses silicon-based miniaturized DNA manufacturing to achieve scale beyond legacy production technologies. The business continues to show broad momentum in DNA Synthesis and Protein Solutions and in Next Generation Sequencing. AI-enabled drug discovery is increasing pharmaceutical demand for Twist's speed, quality and cost advantages, while margins are progressing toward profitability targets. The fund trimmed after strong performance but still believes the secular synthetic-biology shift can support sustainable share gains.
“We continue to believe that as the secular shift towards synthetic biology continues, Twist’s value proposition of high-throughput, high quality and low-cost pricing is differentiated”
Key risks
- Risk/reward became less compelling after strong stock performance