Jennison Associates LLC Decreases Stock Position in Twist Bioscience Co. (NASDAQ:TWST)

Jennison Associates LLC cut its position in Twist Bioscience Co. (NASDAQ:TWST) by 25.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,076 shares of the company’s stock after selling 8,370 shares during the quarter. Jennison Associates LLC’s holdings in Twist Bioscience were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. boosted its stake in Twist Bioscience by 1,496.2% during the 3rd quarter. Invesco Ltd. now owns 831,006 shares of the company’s stock valued at $16,836,000 after acquiring an additional 778,944 shares during the last quarter. ARK Investment Management LLC boosted its stake in Twist Bioscience by 6.3% during the 4th quarter. ARK Investment Management LLC now owns 7,213,257 shares of the company’s stock valued at $265,881,000 after acquiring an additional 427,274 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in Twist Bioscience during the 4th quarter valued at $11,956,000. Citigroup Inc. boosted its stake in Twist Bioscience by 94.1% during the 3rd quarter. Citigroup Inc. now owns 264,204 shares of the company’s stock valued at $5,353,000 after acquiring an additional 128,098 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Twist Bioscience by 2.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,583,443 shares of the company’s stock valued at $132,086,000 after acquiring an additional 99,511 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TWST shares. Scotiabank increased their price objective on shares of Twist Bioscience from $30.00 to $43.00 and gave the company a “sector outperform” rating in a research note on Monday, February 5th. The Goldman Sachs Group upgraded shares of Twist Bioscience from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $45.00 in a research note on Wednesday, January 17th. Finally, Barclays reduced their price target on shares of Twist Bioscience from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th.

Twist Bioscience Stock Performance

Twist Bioscience stock opened at $31.54 on Friday. The firm’s 50-day moving average is $34.57 and its 200-day moving average is $30.42. Twist Bioscience Co. has a 1 year low of $11.46 and a 1 year high of $43.21.

Twist Bioscience (NASDAQ:TWST) last posted its quarterly earnings results on Friday, February 2nd. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.03. Twist Bioscience had a negative net margin of 78.44% and a negative return on equity of 32.16%. The company had revenue of $71.50 million for the quarter, compared to the consensus estimate of $67.59 million. During the same period last year, the firm posted ($0.74) EPS. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that Twist Bioscience Co. will post -3.17 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert Chess sold 4,110 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $34.98, for a total value of $143,767.80. Following the sale, the director now owns 64,169 shares of the company’s stock, valued at approximately $2,244,631.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert Chess sold 4,110 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $34.98, for a total value of $143,767.80. Following the sale, the director now owns 64,169 shares of the company’s stock, valued at approximately $2,244,631.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Patrick John Finn sold 2,174 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $30.12, for a total transaction of $65,480.88. Following the completion of the sale, the chief operating officer now directly owns 176,206 shares in the company, valued at approximately $5,307,324.72. The disclosure for this sale can be found here. Insiders have sold a total of 13,211 shares of company stock valued at $449,573 in the last quarter. Company insiders own 3.92% 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.