Twist Bioscience Corporation $TWST Stock: Allspring Global Investments Holdings LLC Cuts Position

Key Points

• Allspring Global Investments cut its Twist Bioscience stake by 38.8% in the third quarter, selling 162,278 shares; it retained 255,851 shares valued at about $48.1 million.
• Company insiders sold 495,279 shares worth approximately $80.5 million over the past 90 days. The specifically described executive sales were to cover tax withholding on vested equity awards.
• Analyst views are mixed: seven rate the stock Buy, three Hold and two Sell, giving Twist a consensus Hold rating and an average price target of $153.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Twist Bioscience Corporation (NASDAQ:TWST - Free Report) by 38.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 255,851 shares of the company's stock after selling 162,278 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.41% of Twist Bioscience worth $48,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Twist Bioscience in the second quarter worth $600,191,000. William Blair Investment Management LLC bought a new position in shares of Twist Bioscience in the 2nd quarter worth approximately $223,722,000. Bank of America Corp DE bought a new position in shares of Twist Bioscience in the 2nd quarter worth approximately $94,922,000. Sei Investments Co. lifted its stake in shares of Twist Bioscience by 31.2% in the 1st quarter. Sei Investments Co. now owns 354,420 shares of the company's stock worth $16,842,000 after purchasing an additional 84,321 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Twist Bioscience in the second quarter worth approximately $19,722,000.

Insider Activity at Twist Bioscience

In other news, SVP Paula Green sold 1,007 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $135.40, for a total transaction of $136,347.80. Following the transaction, the senior vice president owned 105,625 shares of the company's stock, valued at approximately $14,301,625. The trade was a 0.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Adam Laponis sold 2,462 shares of the company's stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $156.30, for a total transaction of $384,810.60. Following the transaction, the chief financial officer owned 98,114 shares in the company, valued at $15,335,218.20. The trade was a 2.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 495,279 shares of company stock valued at $80,489,387 over the last ninety days. 3.08% of the stock is currently owned by company insiders.

Twist Bioscience Trading Down 2.4%

Shares of Twist Bioscience stock opened at $132.13 on Wednesday. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of -59.52 and a beta of 2.25. The business has a 50-day moving average price of $151.09 and a 200-day moving average price of $91.97. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. Twist Bioscience Corporation has a twelve month low of $23.30 and a twelve month high of $219.71.

Analysts Set New Price Targets

A number of equities analysts recently commented on TWST shares. Barclays raised their target price on Twist Bioscience from $112.00 to $215.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. TD Cowen boosted their price target on Twist Bioscience from $115.00 to $190.00 and gave the company a "buy" rating in a report on Tuesday, October 13th. Canaccord Genuity Group boosted their price target on Twist Bioscience from $120.00 to $205.00 and gave the company a "buy" rating in a report on Monday, October 12th. Jefferies Financial Group began coverage on Twist Bioscience in a research report on Thursday, October 8th. They issued a "hold" rating and a $150.00 price target for the company. Finally, Guggenheim raised their price objective on Twist Bioscience from $107.00 to $212.00 and gave the stock a "buy" rating in a research note on Thursday, October 1st. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Twist Bioscience has a consensus rating of "Hold" and an average price target of $153.00.

Twist Bioscience Company Profile

Twist Bioscience Corporation is a biotechnology company that uses a silicon-based platform to manufacture synthetic DNA. Its technology supports the production of many DNA sequences in parallel for research and commercial applications. The company provides synthetic genes, gene fragments and oligonucleotide pools, as well as tools for next-generation sequencing, including target-enrichment products. Through its biopharma business, Twist also offers antibody discovery and related services to support the development of therapeutics.

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