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Sumitomo Mitsui Trust Group Inc. Cuts Stake in Twist Bioscience Corporation (NASDAQ:TWST)

Twist Bioscience logo with Medical background

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in Twist Bioscience by 547.2% during the 1st quarter. Versant Capital Management Inc now owns 686 shares of the company's stock valued at $27,000 after buying an additional 580 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Twist Bioscience by 68.1% during 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 during the last quarter. Banque Transatlantique SA bought a new position in shares of Twist Bioscience during the 4th quarter valued at approximately $43,000. GF Fund Management CO. LTD. purchased a new position in shares of Twist Bioscience in the fourth quarter valued at $58,000. Finally, US Bancorp DE increased its position in Twist Bioscience by 72.0% in the fourth quarter. US Bancorp DE now owns 1,436 shares of the company's stock worth $67,000 after purchasing an additional 601 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have commented on TWST shares. Robert W. Baird lowered their price objective on shares of Twist Bioscience from $54.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Barclays lowered their price target on shares of Twist Bioscience from $58.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped 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. The Goldman Sachs Group decreased their price objective on Twist Bioscience from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Guggenheim reiterated a "buy" rating and issued a $50.00 target price on shares of Twist Bioscience 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 eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.40.

Get Our Latest Analysis on TWST

Insider Transactions at Twist Bioscience

In related news, SVP Paula Green sold 1,101 shares of Twist Bioscience stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $37.65, for a total transaction of $41,452.65. Following the completion of the sale, the senior vice president owned 129,380 shares in the company, valued at $4,871,157. This trade represents a 0.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Patrick John Finn sold 2,800 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $37.65, for a total transaction of $105,420.00. Following the completion of the transaction, the chief operating officer owned 262,660 shares in the company, valued at $9,889,149. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,911 shares of company stock valued at $761,826. Company insiders own 3.01% of the company's stock.

Twist Bioscience Trading Up 1.1%

Shares of TWST traded up $0.43 during mid-day trading on Thursday, reaching $38.11. 445,333 shares of the company's stock traded hands, compared to its average volume of 962,253. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.51 and a quick ratio of 4.24. The stock's 50-day moving average is $33.57 and its two-hundred day moving average is $40.36. Twist Bioscience Corporation has a 12 month low of $27.12 and a 12 month high of $60.90. The stock has a market cap of $2.28 billion, a P/E ratio of -11.73 and a beta of 2.41.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $92.79 million for 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%. Research analysts forecast that Twist Bioscience Corporation will post -2.12 earnings per share for the current fiscal year.

Twist Bioscience Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Twist Bioscience (NASDAQ:TWST)

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