Bank of New York Mellon Corp Sells 38,379 Shares of Twist Bioscience Corporation (NASDAQ:TWST)

Bank of New York Mellon Corp lowered its position in Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 541,197 shares of the company's stock after selling 38,379 shares during the period. Bank of New York Mellon Corp owned 0.91% of Twist Bioscience worth $21,247,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TWST. Versant Capital Management Inc lifted its holdings in shares of Twist Bioscience by 547.2% in the first quarter. Versant Capital Management Inc now owns 686 shares of the company's stock valued at $27,000 after purchasing an additional 580 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Twist Bioscience by 68.1% in the first quarter. GAMMA Investing LLC now owns 748 shares of the company's stock valued at $29,000 after purchasing an additional 303 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of Twist Bioscience in the fourth quarter valued at approximately $43,000. GF Fund Management CO. LTD. bought a new position in shares of Twist Bioscience in the fourth quarter valued at approximately $58,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Twist Bioscience in the first quarter valued at approximately $201,000.

Twist Bioscience Stock Performance

NASDAQ:TWST traded down $0.40 during trading hours on Monday, reaching $34.77. The stock had a trading volume of 1,026,600 shares, compared to its average volume of 966,183. The stock has a market cap of $2.08 billion, a P/E ratio of -10.70 and a beta of 2.41. Twist Bioscience Corporation has a 12-month low of $27.12 and a 12-month high of $60.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.24 and a current ratio of 4.51. The stock has a 50 day simple moving average of $33.69 and a 200 day simple moving average of $39.42.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.10). The company had revenue of $92.79 million during the quarter, compared to analysts' expectations of $92.00 million. Twist Bioscience had a negative net margin of 54.98% and a negative return on equity of 33.48%. On average, research analysts forecast that Twist Bioscience Corporation will post -2.12 EPS for the current fiscal year.

Insider Buying and Selling at Twist Bioscience

In related news, CFO Adam Laponis sold 2,449 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $38.15, for a total transaction of $93,429.35. Following the completion of the transaction, the chief financial officer directly owned 103,569 shares in the company, valued at $3,951,157.35. The trade was a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Emily M. Leproust sold 5,042 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $37.65, for a total value of $189,831.30. Following the transaction, the chief executive officer owned 655,432 shares of the company's stock, valued at approximately $24,677,014.80. The trade was a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,961 shares of company stock valued at $877,006 over the last 90 days. Insiders own 3.01% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.