Jennison Associates LLC Sells 13,745 Shares of Twist Bioscience Corporation $TWST

Jennison Associates LLC lowered its holdings in shares of Twist Bioscience Corporation (NASDAQ:TWST) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 605,188 shares of the company’s stock after selling 13,745 shares during the quarter. Jennison Associates LLC owned approximately 0.97% of Twist Bioscience worth $28,759,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in Twist Bioscience by 3.6% during the 4th quarter. Stifel Financial Corp now owns 7,769 shares of the company’s stock valued at $246,000 after buying an additional 271 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Twist Bioscience by 1.2% during the fourth quarter. D.A. Davidson & CO. now owns 25,237 shares of the company’s stock worth $801,000 after acquiring an additional 305 shares during the last quarter. CWM LLC grew its stake in Twist Bioscience by 9.4% during the fourth quarter. CWM LLC now owns 4,738 shares of the company’s stock valued at $150,000 after acquiring an additional 407 shares in the last quarter. California State Teachers Retirement System increased its holdings in Twist Bioscience by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 54,187 shares of the company’s stock valued at $1,994,000 after acquiring an additional 442 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in shares of Twist Bioscience by 68.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company’s stock worth $44,000 after buying an additional 571 shares in the last quarter.

Insider Buying and Selling

In other Twist Bioscience news, Director Jan Johannessen sold 12,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.12, for a total transaction of $673,440.00. Following the transaction, the director owned 17,754 shares in the company, valued at $996,354.48. The trade was a 40.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dennis Cho sold 14,205 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $89.75, for a total transaction of $1,274,898.75. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 58,772 shares of company stock valued at $4,756,549 over the last 90 days. 3.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TWST. Guggenheim raised 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. Leerink Partners set a $110.00 target price on Twist Bioscience in a research report on Thursday. Canaccord Genuity Group raised their target price on shares of Twist Bioscience from $90.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. TD Cowen boosted their price target on shares of Twist Bioscience from $68.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Piper Sandler started coverage on shares of Twist Bioscience in a research note on Thursday, June 11th. They set an “overweight” rating and a $85.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Twist Bioscience presently has an average rating of “Moderate Buy” and a consensus target price of $90.30.

Twist Bioscience Trading Down 6.8%

Shares of NASDAQ TWST opened at $87.45 on Tuesday. Twist Bioscience Corporation has a 1-year low of $23.30 and a 1-year high of $105.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 2.42. The business’s 50 day moving average is $78.37 and its two-hundred day moving average is $58.58. The stock has a market capitalization of $5.45 billion, a P/E ratio of -65.75 and a beta of 2.11.

Twist Bioscience (NASDAQ:TWST) last announced its earnings results on Monday, May 4th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.22). The company had revenue of $110.72 million during the quarter, compared to analysts’ expectations of $107.64 million. Twist Bioscience had a negative return on equity of 26.73% and a negative net margin of 19.85%.Twist Bioscience’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.66) EPS. As a group, research analysts expect that Twist Bioscience Corporation will post -2.02 EPS for the current year.

Twist Bioscience Company 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.