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

Jennison Associates LLC cut its stake in Twist Bioscience Corporation (NASDAQ:TWST) by 2.2% during the first quarter, HoldingsChannel reports. The firm owned 605,188 shares of the company’s stock after selling 13,745 shares during the period. Jennison Associates LLC’s holdings in Twist Bioscience were worth $28,759,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Twist Bioscience during the 3rd quarter valued at about $28,000. Strs Ohio bought a new position in Twist Bioscience in the 1st quarter worth about $33,000. Strategic Advocates LLC grew its stake in Twist Bioscience by 562.7% in the 4th quarter. Strategic Advocates LLC now owns 1,067 shares of the company’s stock worth $34,000 after acquiring an additional 906 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Twist Bioscience by 68.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,400 shares of the company’s stock worth $44,000 after acquiring an additional 571 shares during the period. Finally, National Bank of Canada FI purchased a new position in shares of Twist Bioscience during the third quarter worth approximately $46,000.

Insider Buying and Selling at Twist Bioscience

In related news, Director Jan Johannessen sold 12,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.12, for a total transaction of $673,440.00. Following the transaction, the director directly owned 17,754 shares in the company, valued at $996,354.48. The trade was a 40.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Adam Laponis sold 2,399 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $94.33, for a total value of $226,297.67. Following the transaction, the chief financial officer directly owned 110,276 shares in the company, valued at $10,402,335.08. This represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 58,772 shares of company stock valued at $4,756,549. Corporate insiders own 3.08% of the company’s stock.

Twist Bioscience Stock Down 6.8%

Shares of Twist Bioscience stock opened at $87.45 on Tuesday. The firm’s 50 day moving average price is $78.37 and its 200-day moving average price is $58.58. The company has a quick ratio of 2.42, a current ratio of 2.70 and a debt-to-equity ratio of 0.03. Twist Bioscience Corporation has a 52-week low of $23.30 and a 52-week high of $105.47. The company has a market cap of $5.45 billion, a P/E ratio of -65.75 and a beta of 2.11.

Twist Bioscience (NASDAQ:TWST) last posted 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 firm had revenue of $110.72 million for the quarter, compared to analysts’ expectations of $107.64 million. Twist Bioscience had a negative net margin of 19.85% and a negative return on equity of 26.73%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.66) EPS. On average, sell-side analysts predict that Twist Bioscience Corporation will post -2.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Twist Bioscience in a report on Wednesday, June 24th. Evercore downgraded Twist Bioscience from an “outperform” rating to an “in-line” rating and set a $102.00 price objective on the stock. in a report on Monday, July 6th. Piper Sandler initiated coverage on Twist Bioscience in a research report on Thursday, June 11th. They set an “overweight” rating and a $85.00 target price for the company. TD Cowen upped their target price on Twist Bioscience from $68.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, Guggenheim increased their price target on Twist Bioscience from $60.00 to $107.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Twist Bioscience currently has a consensus rating of “Moderate Buy” and an average price target of $90.30.

About Twist Bioscience

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.