Algert Global LLC Sells 14,091 Shares of Twist Bioscience Co. (NASDAQ:TWST)

Algert Global LLC reduced its position in Twist Bioscience Co. (NASDAQ:TWST - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,501 shares of the company's stock after selling 14,091 shares during the period. Algert Global LLC's holdings in Twist Bioscience were worth $1,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in shares of Twist Bioscience by 56.4% during the fourth quarter. Van ECK Associates Corp now owns 740 shares of the company's stock valued at $34,000 after buying an additional 267 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Twist Bioscience during the third quarter worth approximately $34,000. US Bancorp DE boosted its position in shares of Twist Bioscience by 72.0% during the fourth quarter. US Bancorp DE now owns 1,436 shares of the company's stock worth $67,000 after buying an additional 601 shares during the period. KBC Group NV boosted its position 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 buying an additional 1,226 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Twist Bioscience by 19.9% during the fourth quarter. Blue Trust Inc. now owns 4,567 shares of the company's stock worth $206,000 after buying an additional 757 shares during the period.

Insider Activity

In other news, CEO Emily M. Leproust sold 2,402 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $40.91, for a total transaction of $98,265.82. Following the sale, the chief executive officer now directly owns 662,692 shares of the company's stock, valued at $27,110,729.72. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Paula Green sold 1,101 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $37.65, for a total transaction of $41,452.65. Following the sale, the senior vice president now directly owns 129,380 shares in the company, valued at $4,871,157. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,991 shares of company stock valued at $742,654. Insiders own 3.01% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TWST. Robert W. Baird reduced their price objective on Twist Bioscience from $54.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Barclays dropped their target price on Twist Bioscience from $58.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group dropped their target price on Twist Bioscience from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on Twist Bioscience from $40.00 to $33.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Finally, Guggenheim reissued a "buy" rating and set a $50.00 target price on shares of Twist Bioscience in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.40.

Twist Bioscience Price Performance

Shares of NASDAQ TWST traded down $0.66 during trading on Tuesday, hitting $32.29. The company had a trading volume of 1,158,356 shares, compared to its average volume of 967,305. The company has a market cap of $1.93 billion, a P/E ratio of -9.55 and a beta of 2.54. Twist Bioscience Co. has a 52 week low of $30.72 and a 52 week high of $60.90. The business's 50-day moving average is $38.45 and its 200 day moving average is $43.64. 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 (NASDAQ:TWST - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.10). Twist Bioscience had a negative net margin of 59.76% and a negative return on equity of 32.69%. The company had revenue of $92.79 million during the quarter, compared to the consensus estimate of $92.00 million. Equities research analysts predict that Twist Bioscience Co. will post -2.12 earnings per share for the current fiscal year.

Twist Bioscience 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.