IQ EQ FUND MANAGEMENT IRELAND Ltd Has $1.89 Million Stock Holdings in Twist Bioscience Corporation (NASDAQ:TWST)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd significantly increased its holdings in Twist Bioscience, acquiring a total of 48,045 shares, marking a 93.6% increase in the 1st quarter.
• Several analysts have downgraded their price targets for Twist Bioscience, with JPMorgan Chase reducing their target from $40 to $33 and Goldman Sachs from $55 to $48, while some maintain a "buy" rating.
• In recent insider transactions, CEO Emily M. Leproust sold 1,678 shares and CFO Adam Laponis sold 2,449 shares, equating to a 3.01% decrease in insider ownership.

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 93.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,045 shares of the company's stock after purchasing an additional 23,230 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.08% of Twist Bioscience worth $1,886,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TWST. Norges Bank acquired a new stake in Twist Bioscience in the 4th quarter valued at approximately $7,584,000. Pictet Asset Management Holding SA raised its stake in Twist Bioscience by 27.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,131 shares of the company's stock worth $378,000 after acquiring an additional 1,764 shares in the last quarter. Alliancebernstein L.P. raised its stake in Twist Bioscience by 1.2% during the 4th quarter. Alliancebernstein L.P. now owns 66,524 shares of the company's stock worth $3,091,000 after acquiring an additional 820 shares in the last quarter. Geode Capital Management LLC raised its stake in Twist Bioscience by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,374,667 shares of the company's stock worth $63,895,000 after acquiring an additional 6,908 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in Twist Bioscience during the 4th quarter worth $1,826,000.

Twist Bioscience Trading Down 5.6%

NASDAQ:TWST traded down $1.46 during trading hours on Thursday, reaching $24.45. 1,381,401 shares of the company were exchanged, compared to its average volume of 1,135,391. The stock has a 50 day simple moving average of $34.63 and a 200 day simple moving average of $38.42. Twist Bioscience Corporation has a 52-week low of $24.37 and a 52-week high of $55.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.90 and a quick ratio of 4.24. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -16.86 and a beta of 2.36.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.47) earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $0.07. Twist Bioscience had a negative net margin of 23.51% and a negative return on equity of 29.03%. The business had revenue of $96.06 million during the quarter, compared to analyst estimates of $95.52 million. As a group, analysts predict that Twist Bioscience Corporation will post -2.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TWST shares. Guggenheim restated a "buy" rating and issued a $50.00 price objective on shares of Twist Bioscience in a research note on Tuesday, May 6th. Robert W. Baird lowered their target price on shares of Twist Bioscience from $54.00 to $44.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Cowen reaffirmed a "buy" rating on shares of Twist Bioscience in a report on Monday. The Goldman Sachs Group reduced their price target on shares of Twist Bioscience from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Twist Bioscience from $40.00 to $33.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.40.

Insider Activity

In other Twist Bioscience news, COO Patrick John Finn sold 1,877 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $29.75, for a total transaction of $55,840.75. Following the sale, the chief operating officer directly owned 240,783 shares in the company, valued at approximately $7,163,294.25. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Emily M. Leproust sold 2,802 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $29.75, for a total transaction of $83,359.50. Following the completion of the sale, the chief executive officer owned 649,630 shares in the company, valued at $19,326,492.50. The trade was a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,109 shares of company stock valued at $425,962. Company 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.