Twist Bioscience Corporation $TWST Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in Twist Bioscience Corporation (NASDAQ:TWST) by 22.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 776,099 shares of the company’s stock after selling 224,245 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.24% of Twist Bioscience worth $149,973,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC purchased a new position in Twist Bioscience during the third quarter valued at approximately $33,000. Signaturefd LLC lifted its holdings in Twist Bioscience by 94.3% during the third quarter. Signaturefd LLC now owns 548 shares of the company’s stock worth $106,000 after buying an additional 266 shares during the period. Allworth Financial LP bought a new stake in Twist Bioscience during the 2nd quarter valued at $62,000. Trifecta Capital Advisors LLC bought a new stake in Twist Bioscience during the 2nd quarter valued at $63,000. Finally, Western Wealth Management LLC bought a new stake in Twist Bioscience during the 1st quarter valued at $31,000.

Insider Activity

In related news, CAO Robert Werner sold 1,482 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $188.88, for a total value of $279,920.16. Following the completion of the transaction, the chief accounting officer owned 42,917 shares in the company, valued at $8,106,162.96. This trade represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Emily M. Leproust sold 4,548 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $202.15, for a total value of $919,378.20. Following the completion of the transaction, the chief executive officer directly owned 562,760 shares in the company, valued at $113,761,934. This represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 601,920 shares of company stock valued at $93,768,202. 3.08% of the stock is owned by corporate insiders.

Twist Bioscience Price Performance

NASDAQ:TWST opened at $152.78 on Monday. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03. Twist Bioscience Corporation has a twelve month low of $23.30 and a twelve month high of $219.71. The company has a market cap of $9.58 billion, a PE ratio of -68.82 and a beta of 2.25. The company’s 50 day moving average is $153.11 and its two-hundred day moving average is $88.83.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.05). Twist Bioscience had a negative return on equity of 28.64% and a negative net margin of 31.66%. The company had revenue of $118.38 million during the quarter, compared to analysts’ expectations of $114.55 million. During the same period in the prior year, the business posted $0.33 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts anticipate that Twist Bioscience Corporation will post -2.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on TWST. Evercore downgraded shares of Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 target price for the company. in a report on Monday, July 6th. Robert W. Baird raised their price target on shares of Twist Bioscience from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. BWS Financial reaffirmed a “sell” rating and issued a $45.00 price objective on shares of Twist Bioscience in a research report on Friday, September 18th. Jefferies Financial Group initiated coverage on shares of Twist Bioscience in a research note on Thursday, October 8th. They set a “hold” rating and a $150.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Twist Bioscience in a research report on Monday, September 21st. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $143.67.

Twist Bioscience Profile

Twist Bioscience Corporation is a biotechnology company that develops and manufactures synthetic DNA and related products for life sciences research. The company uses a proprietary silicon-based platform to produce high-quality DNA at scale, supporting applications in synthetic biology, drug discovery and development, agriculture, and academic and industrial research.

Its offerings include synthetic genes, oligonucleotides, gene fragments, variant libraries, and antibody discovery products.