Legal & General Group Plc Lowers Holdings in Twist Bioscience Co. (NASDAQ:TWST)

Legal & General Group Plc lowered its position in shares of Twist Bioscience Co. (NASDAQ:TWST - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,168 shares of the company's stock after selling 10,303 shares during the period. Legal & General Group Plc owned about 0.15% of Twist Bioscience worth $4,051,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Twist Bioscience by 1.3% in the 4th quarter. Arizona State Retirement System now owns 16,985 shares of the company's stock valued at $789,000 after acquiring an additional 219 shares during the period. Van ECK Associates Corp boosted its position in Twist Bioscience by 56.4% during the fourth quarter. Van ECK Associates Corp now owns 740 shares of the company's stock valued at $34,000 after purchasing an additional 267 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in Twist Bioscience by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 78,000 shares of the company's stock valued at $3,625,000 after purchasing an additional 300 shares during the last quarter. US Bancorp DE raised its holdings in Twist Bioscience by 72.0% in the fourth quarter. US Bancorp DE now owns 1,436 shares of the company's stock worth $67,000 after purchasing an additional 601 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Twist Bioscience by 11.8% during the third quarter. Stifel Financial Corp now owns 6,967 shares of the company's stock valued at $315,000 after buying an additional 734 shares during the last quarter.

Twist Bioscience Stock Performance

Shares of TWST stock opened at $36.94 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.96 and a quick ratio of 4.62. The business has a fifty day moving average of $40.15 and a 200 day moving average of $44.33. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -10.93 and a beta of 2.34. Twist Bioscience Co. has a 1 year low of $29.61 and a 1 year high of $60.90.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.09. The firm had revenue of $88.70 million during the quarter, compared to analysts' expectations of $86.96 million. Twist Bioscience had a negative return on equity of 32.69% and a negative net margin of 59.76%. The company's revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the business posted ($0.75) earnings per share. As a group, research analysts expect that Twist Bioscience Co. will post -2.12 earnings per share for the current year.

Insider Activity

In other news, COO Patrick John Finn sold 2,422 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $50.17, for a total value of $121,511.74. Following the completion of the transaction, the chief operating officer now owns 272,044 shares of the company's stock, valued at $13,648,447.48. The trade was a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Emily M. Leproust sold 5,200 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $49.35, for a total value of $256,620.00. Following the sale, the chief executive officer now directly owns 667,318 shares in the company, valued at approximately $32,932,143.30. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,796 shares of company stock valued at $1,077,383 in the last ninety days. Insiders own 3.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TWST. Barclays cut their price objective on shares of Twist Bioscience from $58.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Scotiabank reaffirmed an "outperform" rating on shares of Twist Bioscience in a report on Tuesday, February 4th. Guggenheim set a $50.00 price objective on Twist Bioscience in a report on Friday, March 28th. JPMorgan Chase & Co. boosted their target price on Twist Bioscience from $35.00 to $40.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird upped their target price on Twist Bioscience from $48.00 to $54.00 and gave the company an "outperform" rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.80.

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.

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