Twist Bioscience Co. (NASDAQ:TWST) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its holdings in Twist Bioscience Co. (NASDAQ:TWST) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 761,224 shares of the company’s stock after selling 5,925 shares during the period. Fred Alger Management LLC’s holdings in Twist Bioscience were worth $35,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Van ECK Associates Corp grew its stake in Twist Bioscience by 56.4% in the 4th quarter. Van ECK Associates Corp now owns 740 shares of the company’s stock valued at $34,000 after acquiring an additional 267 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Twist Bioscience during the third quarter valued at $34,000. Banque Transatlantique SA purchased a new position in Twist Bioscience during the fourth quarter valued at $43,000. US Bancorp DE grew its position in shares of Twist Bioscience by 72.0% in the fourth quarter. US Bancorp DE now owns 1,436 shares of the company’s stock valued at $67,000 after purchasing an additional 601 shares during the period. Finally, KBC Group NV increased its stake in shares of Twist Bioscience by 71.4% during the fourth quarter. KBC Group NV now owns 2,942 shares of the company’s stock worth $137,000 after purchasing an additional 1,226 shares in the last quarter.

Insider Activity

In other Twist Bioscience news, SVP Paula Green sold 918 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $40.91, for a total transaction of $37,555.38. Following the sale, the senior vice president now directly owns 130,912 shares in the company, valued at $5,355,609.92. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Chess sold 2,940 shares of Twist Bioscience stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $53.13, for a total transaction of $156,202.20. Following the completion of the transaction, the director now owns 18,173 shares of the company’s stock, valued at $965,531.49. This trade represents a 13.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,931 shares of company stock valued at $898,856. Company insiders own 3.01% of the company’s stock.

Twist Bioscience Stock Performance

NASDAQ:TWST opened at $32.78 on Thursday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -9.70 and a beta of 2.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.96 and a quick ratio of 4.62. The company’s 50-day moving average is $38.90 and its two-hundred day moving average is $43.82. Twist Bioscience Co. has a 1-year low of $31.56 and a 1-year high of $60.90.

Twist Bioscience (NASDAQ:TWST) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.10). The business had revenue of $92.79 million during the quarter, compared to analyst estimates of $92.00 million. Twist Bioscience had a negative net margin of 59.76% and a negative return on equity of 32.69%. Analysts forecast that Twist Bioscience Co. will post -2.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TWST shares. JPMorgan Chase & Co. decreased their target price on Twist Bioscience from $40.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday. Scotiabank restated an “outperform” rating on shares of Twist Bioscience in a report on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and set a $50.00 target price on shares of Twist Bioscience in a report on Tuesday. Barclays reduced their target price on shares of Twist Bioscience from $58.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group dropped their price objective on shares of Twist Bioscience from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.40.

Twist Bioscience Company Profile

Twist Bioscience Corporation engages in the manufacture and sale of synthetic DNA-based products. The company offers synthetic genes and gene fragments used in product development for therapeutics, diagnostics, chemicals/materials, food/agriculture, data storage, and various applications within academic research by biotech, pharma, industrial chemical, and agricultural companies, as well as academic labs; Oligo pools used in targeted NGS, CRISPR gene editing, mutagenesis experiments, DNA origami, DNA computing, data storage in DNA, and other applications; and immunoglobulin G proteins for customers focused on the pursuit of drug discovery and development.