ARK Investment Management LLC Decreases Stock Position in Twist Bioscience Co. (NASDAQ:TWST)

ARK Investment Management LLC lessened its stake in Twist Bioscience Co. (NASDAQ:TWST - Free Report) by 12.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,358,093 shares of the company's stock after selling 771,282 shares during the quarter. Twist Bioscience makes up about 2.2% of ARK Investment Management LLC's holdings, making the stock its 13th largest position. ARK Investment Management LLC owned approximately 9.20% of Twist Bioscience worth $242,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of TWST. Point72 Asset Management L.P. lifted its holdings in shares of Twist Bioscience by 1,021.8% in the second quarter. Point72 Asset Management L.P. now owns 673,057 shares of the company's stock valued at $33,168,000 after purchasing an additional 613,057 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Twist Bioscience by 720.7% during the second quarter. Fred Alger Management LLC now owns 654,877 shares of the company's stock valued at $32,272,000 after acquiring an additional 575,080 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Twist Bioscience by 4,133.1% during the second quarter. Victory Capital Management Inc. now owns 308,171 shares of the company's stock valued at $15,187,000 after acquiring an additional 300,891 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Twist Bioscience during the second quarter valued at approximately $9,462,000. Finally, Driehaus Capital Management LLC increased its position in shares of Twist Bioscience by 63.0% during the second quarter. Driehaus Capital Management LLC now owns 388,643 shares of the company's stock valued at $19,152,000 after acquiring an additional 150,260 shares during the last quarter.

Twist Bioscience Trading Down 0.3 %

Shares of NASDAQ TWST traded down $0.12 during mid-day trading on Friday, hitting $45.40. The company had a trading volume of 638,570 shares, compared to its average volume of 941,083. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -11.92 and a beta of 1.78. Twist Bioscience Co. has a 1 year low of $15.85 and a 1 year high of $60.90. The stock's 50-day moving average price is $43.65 and its 200-day moving average price is $45.43.

Insider Activity at Twist Bioscience

In related news, CEO Emily M. Leproust sold 14,334 shares of Twist Bioscience stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $44.60, for a total transaction of $639,296.40. Following the completion of the sale, the chief executive officer now owns 589,552 shares of the company's stock, valued at approximately $26,294,019.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Twist Bioscience news, CEO Emily M. Leproust sold 1,730 shares of Twist Bioscience stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $46.94, for a total transaction of $81,206.20. Following the completion of the sale, the chief executive officer now owns 495,523 shares of the company's stock, valued at $23,259,849.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emily M. Leproust sold 14,334 shares of Twist Bioscience stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $44.60, for a total value of $639,296.40. Following the sale, the chief executive officer now directly owns 589,552 shares of the company's stock, valued at approximately $26,294,019.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,356 shares of company stock valued at $3,205,239. Company insiders own 3.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TWST shares. Evercore ISI increased their price target on Twist Bioscience from $52.00 to $56.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Barclays decreased their target price on Twist Bioscience from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on Twist Bioscience from $28.00 to $35.00 and gave the stock an "underweight" rating in a research report on Monday, August 5th. Leerink Partners raised their target price on Twist Bioscience from $45.00 to $48.00 and gave the stock a "market perform" rating in a research report on Thursday, October 17th. Finally, Robert W. Baird raised their target price on Twist Bioscience from $40.00 to $46.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $51.22.

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.