Fred Alger Management LLC Sells 422,956 Shares of Twist Bioscience Corporation $TWST

Key Points

• Fred Alger Management LLC decreased its ownership in Twist Bioscience Corporation by 55.6%, selling 422,956 shares during the first quarter, leaving it with approximately 338,268 shares valued at $13.28 million.
• Insider transactions included CFO Adam Laponis selling 2,449 shares and CEO Emily M. Leproust selling 1,678 shares, resulting in minor reductions in their respective holdings.
• Twist Bioscience has received a Moderate Buy rating from analysts, with an average target price of $49.40, supported by a recent earnings report that exceeded revenue and EPS estimates.

Fred Alger Management LLC cut its stake in Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 55.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,268 shares of the company's stock after selling 422,956 shares during the quarter. Fred Alger Management LLC owned approximately 0.56% of Twist Bioscience worth $13,280,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TWST. Versant Capital Management Inc grew its stake 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 acquiring an additional 580 shares in the last quarter. GAMMA Investing LLC grew its stake 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 acquiring an additional 303 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Twist Bioscience in the fourth quarter valued at about $58,000. Teza Capital Management LLC acquired a new position in shares of Twist Bioscience in the fourth quarter valued at about $204,000. Finally, Cetera Investment Advisers acquired a new position in shares of Twist Bioscience in the fourth quarter valued at about $220,000.

Analysts Set New Price Targets

TWST has been the topic of several research reports. Cowen restated a "buy" rating on shares of Twist Bioscience in a research note on Monday, August 4th. Evercore ISI set a $46.00 price target on shares of Twist Bioscience in a research note on Monday, August 4th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.40.

Twist Bioscience Price Performance

Twist Bioscience stock traded down $0.30 during trading hours on Friday, reaching $25.31. 1,502,508 shares of the stock were exchanged, compared to its average volume of 1,300,645. The company has a market cap of $1.53 billion, a P/E ratio of -17.46 and a beta of 2.31. The company has a current ratio of 3.90, a quick ratio of 3.60 and a debt-to-equity ratio of 0.03. Twist Bioscience Corporation has a twelve month low of $24.07 and a twelve month high of $55.33. The stock has a 50 day moving average of $30.52 and a two-hundred day moving average of $34.18.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.54) by $0.07. The firm had revenue of $96.06 million for the quarter, compared to the consensus estimate of $95.52 million. Twist Bioscience had a negative net margin of 23.51% and a negative return on equity of 29.03%. Twist Bioscience has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts expect that Twist Bioscience Corporation will post -2.12 EPS for the current fiscal year.

Insider Transactions at Twist Bioscience

In other Twist Bioscience news, CFO Adam Laponis sold 2,449 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $38.15, for a total transaction of $93,429.35. Following the sale, the chief financial officer directly owned 103,569 shares in the company, valued at $3,951,157.35. This represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Emily M. Leproust sold 2,265 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $25.76, for a total transaction of $58,346.40. Following the completion of the transaction, the chief executive officer directly owned 634,740 shares of the company's stock, valued at $16,350,902.40. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,911 shares of company stock worth $288,159 over the last quarter. Corporate insiders own 3.01% of the company's stock.

Twist Bioscience Company 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.