Twist Bioscience Corporation $TWST Position Cut by Pekin Hardy Strauss Inc.

Key Points

• Pekin Hardy Strauss cut its Twist Bioscience stake by 87.2% in the third quarter, selling 20,400 shares and retaining 3,000 shares worth about $580,000.
• Analyst views were mixed: seven analysts rated TWST a Buy, three a Hold, and two a Sell; the consensus rating was Hold with an average price target of $153.
• Twist shares opened at $120.79, below their 50-day average of $151.35. Insiders also sold shares recently, mostly to cover tax withholding on vested equity awards.

Pekin Hardy Strauss Inc. reduced its stake in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 87.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the company's stock after selling 20,400 shares during the period. Pekin Hardy Strauss Inc.'s holdings in Twist Bioscience were worth $580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TWST. E. Ohman J or Asset Management AB bought a new position in Twist Bioscience during the second quarter worth $853,000. Allspring Global Investments Holdings LLC acquired a new position in Twist Bioscience during the 1st quarter valued at $22,563,000. Bank of America Corp DE raised its stake in Twist Bioscience by 46.3% during the 1st quarter. Bank of America Corp DE now owns 584,261 shares of the company's stock valued at $27,764,000 after purchasing an additional 184,907 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Twist Bioscience in the 2nd quarter valued at $223,722,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Twist Bioscience in the 2nd quarter valued at $8,215,000.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Twist Bioscience from $85.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Canaccord Genuity Group upped their price objective on shares of Twist Bioscience from $120.00 to $205.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Leerink Partners increased their target price on shares of Twist Bioscience from $160.00 to $190.00 and gave the company an "outperform" rating in a research note on Tuesday, September 29th. Barclays increased their target price on shares of Twist Bioscience from $112.00 to $215.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Finally, BWS Financial reissued a "sell" rating and set a $45.00 target price on shares of Twist Bioscience in a research report on Friday, September 18th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $153.00.

Twist Bioscience Stock Performance

Shares of NASDAQ TWST opened at $120.79 on Friday. The business has a fifty day simple moving average of $151.35 and a 200 day simple moving average of $91.08. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of -54.41 and a beta of 2.25. Twist Bioscience Corporation has a one year low of $23.30 and a one year high of $219.71.

Insider Activity

In other Twist Bioscience news, CFO Adam Laponis sold 2,462 shares of the business's stock in a transaction on Friday, October 9th. The shares were sold at an average price of $156.30, for a total value of $384,810.60. Following the sale, the chief financial officer owned 98,114 shares of the company's stock, valued at $15,335,218.20. The trade was a 2.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dennis Cho sold 949 shares of the stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $135.40, for a total transaction of $128,494.60. Following the completion of the transaction, the insider owned 62,840 shares of the company's stock, valued at approximately $8,508,536. This represents a 1.49% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 608,597 shares of company stock valued at $94,672,268. 3.08% of the stock is owned by insiders.

Key Twist Bioscience News

Here are the key news stories impacting Twist Bioscience this week:

• Positive Sentiment: Twist launched MRD Express, potentially expanding its presence in minimal residual disease testing. Investors may look for further details on the product and business outlook around earnings. Article: Twist Bioscience stock enters earnings week after MRD Express launch
• Neutral Sentiment: CEO Emily Leproust and three other insiders sold a combined 6,677 shares at $135.40. The sales were disclosed as covering tax withholding on equity-award vesting, and each seller retained a substantial stake.
• Negative Sentiment: Shares fell amid a negative report from The Bear Cave/Hunterbrook. The provided article headline does not specify the report’s allegations, but its release appears to have hurt sentiment. Article: Twist Bioscience falls amid negative report

About Twist Bioscience

Twist Bioscience Corporation is a biotechnology company that develops and manufactures synthetic DNA and related products for life sciences research. The company uses a proprietary silicon-based platform to produce high-quality DNA at scale, supporting applications in synthetic biology, drug discovery and development, agriculture, and academic and industrial research.

Its offerings include synthetic genes, oligonucleotides, gene fragments, variant libraries, and antibody discovery products.

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