Sumitomo Mitsui Trust Group Inc. Has $94.84 Million Stock Position in Twist Bioscience Corporation (NASDAQ:TWST)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 7.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,415,798 shares of the company's stock after selling 197,166 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 4.05% of Twist Bioscience worth $94,844,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Twist Bioscience by 547.2% in the 1st 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 holdings in shares of Twist Bioscience by 68.1% in the 1st 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. Banque Transatlantique SA bought a new position in shares of Twist Bioscience in the 4th quarter valued at about $43,000. GF Fund Management CO. LTD. bought a new position in shares of Twist Bioscience in the 4th quarter valued at about $58,000. Finally, US Bancorp DE grew its holdings in shares of Twist Bioscience by 72.0% in the 4th quarter. US Bancorp DE now owns 1,436 shares of the company's stock valued at $67,000 after acquiring an additional 601 shares in the last quarter.

Twist Bioscience Stock Performance

TWST stock traded down $0.04 during mid-day trading on Tuesday, hitting $36.75. 681,244 shares of the company were exchanged, compared to its average volume of 963,366. The business has a 50 day simple moving average of $33.57 and a 200-day simple moving average of $40.41. The company has a current ratio of 4.51, a quick ratio of 4.24 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.20 billion, a PE ratio of -11.31 and a beta of 2.41. Twist Bioscience Corporation has a 1-year low of $27.12 and a 1-year high of $60.90.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $92.79 million for the quarter, compared to analyst estimates of $92.00 million. Twist Bioscience had a negative return on equity of 33.48% and a negative net margin of 54.98%. On average, equities analysts forecast that Twist Bioscience Corporation will post -2.12 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Dennis Cho sold 689 shares of Twist Bioscience stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $37.65, for a total value of $25,940.85. Following the completion of the sale, the insider directly owned 110,849 shares in the company, valued at approximately $4,173,464.85. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adam Laponis sold 936 shares of Twist Bioscience stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $29.75, for a total transaction of $27,846.00. Following the completion of the sale, the chief financial officer owned 106,018 shares of the company's stock, valued at approximately $3,154,035.50. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,873 shares of company stock valued at $799,084 in the last quarter. Corporate insiders own 3.01% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Twist Bioscience from $40.00 to $33.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. Robert W. Baird reduced their price target on Twist Bioscience from $54.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group reduced their price target on Twist Bioscience from $55.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Guggenheim reiterated a "buy" rating and set a $50.00 price target on shares of Twist Bioscience in a report on Tuesday, May 6th. Finally, Barclays reduced their price target on Twist Bioscience from $58.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.40.

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.