Twist Bioscience Co. (NASDAQ:TWST) Stake Lessened by Castleark Management LLC

Castleark Management LLC decreased its holdings in shares of Twist Bioscience Co. (NASDAQ:TWST - Free Report) by 55.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,520 shares of the company's stock after selling 87,860 shares during the quarter. Castleark Management LLC owned approximately 0.12% of Twist Bioscience worth $3,141,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Thrivent Financial for Lutherans acquired a new stake in shares of Twist Bioscience during the 3rd quarter worth approximately $43,992,000. Point72 Asset Management L.P. increased its position in 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 worth $33,168,000 after buying an additional 613,057 shares during the period. Fred Alger Management LLC increased its position in Twist Bioscience by 720.7% in the second quarter. Fred Alger Management LLC now owns 654,877 shares of the company's stock worth $32,272,000 after buying an additional 575,080 shares during the period. State Street Corp lifted its stake in Twist Bioscience by 19.9% in the third quarter. State Street Corp now owns 3,167,353 shares of the company's stock valued at $143,101,000 after buying an additional 526,028 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Twist Bioscience by 188.5% during the third quarter. Wellington Management Group LLP now owns 797,737 shares of the company's stock valued at $36,042,000 after acquiring an additional 521,272 shares during the period.

Twist Bioscience Trading Up 3.9 %

NASDAQ:TWST traded up $1.96 during mid-day trading on Friday, reaching $52.70. 512,209 shares of the stock were exchanged, compared to its average volume of 941,345. The business has a fifty day moving average price of $44.36 and a 200 day moving average price of $46.41. Twist Bioscience Co. has a 1-year low of $24.81 and a 1-year high of $60.90. The firm has a market capitalization of $3.13 billion, a PE ratio of -14.64 and a beta of 1.82.

Insider Activity

In other news, insider Dennis Cho sold 659 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $41.56, for a total transaction of $27,388.04. Following the sale, the insider now directly owns 94,481 shares of the company's stock, valued at $3,926,630.36. The trade was a 0.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Paula Green sold 3,310 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $43.21, for a total value of $143,025.10. Following the completion of the transaction, the senior vice president now owns 84,585 shares of the company's stock, valued at $3,654,917.85. This trade represents a 3.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,118 shares of company stock worth $4,391,151. Corporate insiders own 3.92% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TWST. TD Cowen reiterated a "buy" rating and issued a $58.00 price objective on shares of Twist Bioscience in a research report on Tuesday, November 26th. Barclays cut their price target on Twist Bioscience from $55.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, November 19th. Scotiabank increased their price objective on Twist Bioscience from $50.00 to $54.00 and gave the stock a "sector outperform" rating in a report on Tuesday, November 19th. Evercore ISI lifted their target price on Twist Bioscience from $52.00 to $56.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Finally, Leerink Partners increased their price target on Twist Bioscience from $45.00 to $48.00 and gave the stock a "market perform" rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.00.

About Twist Bioscience

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.