Bank of New York Mellon Corp Trims Stock Position in Twist Bioscience Co. (NASDAQ:TWST)

Bank of New York Mellon Corp lessened its holdings in Twist Bioscience Co. (NASDAQ:TWST) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 579,576 shares of the company’s stock after selling 35,373 shares during the period. Bank of New York Mellon Corp’s holdings in Twist Bioscience were worth $26,933,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TWST. Thrivent Financial for Lutherans purchased a new stake in shares of Twist Bioscience in the third quarter valued at about $43,992,000. State Street Corp lifted its stake in shares of Twist Bioscience by 19.9% during the third quarter. State Street Corp now owns 3,167,353 shares of the company’s stock valued at $143,101,000 after buying an additional 526,028 shares during the period. Wellington Management Group LLP lifted its stake in shares of Twist Bioscience by 188.5% during the third quarter. Wellington Management Group LLP now owns 797,737 shares of the company’s stock valued at $36,042,000 after buying an additional 521,272 shares during the period. Jennison Associates LLC lifted its stake in shares of Twist Bioscience by 80.2% during the fourth quarter. Jennison Associates LLC now owns 680,778 shares of the company’s stock valued at $31,636,000 after buying an additional 302,884 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Twist Bioscience by 81.9% during the fourth quarter. Principal Financial Group Inc. now owns 374,551 shares of the company’s stock valued at $17,405,000 after buying an additional 168,687 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Scotiabank reissued an “outperform” rating on shares of Twist Bioscience in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upped their price target on shares of Twist Bioscience from $35.00 to $40.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Barclays set a $58.00 price target on shares of Twist Bioscience and gave the stock an “overweight” rating in a research report on Monday, February 3rd. TD Cowen reaffirmed a “buy” rating and set a $58.00 price target on shares of Twist Bioscience in a research report on Tuesday, November 26th. Finally, Wolfe Research began coverage on shares of Twist Bioscience in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Twist Bioscience currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.40.

Twist Bioscience Trading Up 0.6 %

Twist Bioscience stock opened at $39.43 on Friday. The firm’s 50-day moving average is $46.54 and its 200-day moving average is $45.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.62 and a current ratio of 4.96. Twist Bioscience Co. has a 1 year low of $27.41 and a 1 year high of $60.90. The company has a market cap of $2.35 billion, a P/E ratio of -11.67 and a beta of 2.15.

Twist Bioscience (NASDAQ:TWST) last released its quarterly earnings data on Monday, February 3rd. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.09. Twist Bioscience had a negative net margin of 59.76% and a negative return on equity of 32.69%. The business had revenue of $88.70 million for the quarter, compared to analysts’ expectations of $86.96 million. During the same quarter last year, the company earned ($0.75) EPS. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities analysts expect that Twist Bioscience Co. will post -2.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Adam Laponis sold 5,886 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $43.26, for a total value of $254,628.36. Following the sale, the chief financial officer now owns 110,096 shares of the company’s stock, valued at $4,762,752.96. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Emily M. Leproust sold 5,200 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $49.35, for a total transaction of $256,620.00. Following the completion of the sale, the chief executive officer now directly owns 667,318 shares in the company, valued at approximately $32,932,143.30. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,007 shares of company stock valued at $1,446,933 in the last quarter. Company insiders own 3.01% of the company’s stock.

About Twist Bioscience

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.