Jennison Associates LLC Has $22.64 Million Stock Holdings in Twist Bioscience Corporation (NASDAQ:TWST)

Jennison Associates LLC reduced its position in Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 576,781 shares of the company's stock after selling 103,997 shares during the quarter. Jennison Associates LLC owned approximately 0.97% of Twist Bioscience worth $22,644,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in shares of Twist Bioscience by 18.5% during the 1st quarter. Farther Finance Advisors LLC now owns 6,435 shares of the company's stock worth $251,000 after acquiring an additional 1,006 shares during the period. GAMMA Investing LLC raised its position in Twist Bioscience by 6,499.1% in the first quarter. GAMMA Investing LLC now owns 29,366 shares of the company's stock worth $1,153,000 after purchasing an additional 28,921 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Twist Bioscience during the first quarter worth about $396,000. SG Americas Securities LLC acquired a new stake in Twist Bioscience during the first quarter valued at approximately $893,000. Finally, Vanguard Group Inc. grew its stake in shares of Twist Bioscience by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 5,807,183 shares of the company's stock valued at $269,860,000 after purchasing an additional 189,791 shares during the period.

Analyst Upgrades and Downgrades

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

Twist Bioscience Price Performance

NASDAQ:TWST traded down $0.95 during mid-day trading on Thursday, reaching $35.08. 1,008,344 shares of the company were exchanged, compared to its average volume of 851,416. The company has a quick ratio of 4.24, a current ratio of 4.51 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.10 billion, a PE ratio of -10.79 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 fifty day moving average of $34.03 and a 200 day moving average of $39.19.

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

Insider Activity

In other news, SVP Paula Green sold 1,101 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $37.65, for a total transaction of $41,452.65. Following the transaction, the senior vice president owned 129,380 shares of the company's stock, valued at $4,871,157. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Adam Laponis sold 2,449 shares of Twist Bioscience stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $38.15, for a total value of $93,429.35. Following the completion of the sale, the chief financial officer owned 103,569 shares of the company's stock, valued at approximately $3,951,157.35. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,903 shares of company stock worth $794,706. 3.01% of the stock is owned by company insiders.

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.