Lord Abbett & CO. LLC Cuts Stake in Twist Bioscience Co. (NASDAQ:TWST)

Lord Abbett & CO. LLC trimmed its position in Twist Bioscience Co. (NASDAQ:TWST - Free Report) by 70.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,426 shares of the company's stock after selling 249,802 shares during the period. Lord Abbett & CO. LLC owned 0.18% of Twist Bioscience worth $4,718,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Twist Bioscience by 210.2% during the second quarter. Principal Financial Group Inc. now owns 122,911 shares of the company's stock worth $6,057,000 after buying an additional 83,287 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Twist Bioscience by 215.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,314 shares of the company's stock valued at $1,324,000 after acquiring an additional 20,035 shares during the last quarter. FMR LLC grew its holdings in shares of Twist Bioscience by 6.0% during the third quarter. FMR LLC now owns 218,561 shares of the company's stock worth $9,875,000 after purchasing an additional 12,327 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Twist Bioscience by 128.1% in the third quarter. BNP Paribas Financial Markets now owns 38,032 shares of the company's stock worth $1,718,000 after purchasing an additional 21,357 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Twist Bioscience in the third quarter valued at approximately $599,000.

Twist Bioscience Stock Performance

Shares of NASDAQ TWST traded down $0.03 during trading hours on Tuesday, hitting $48.40. The company's stock had a trading volume of 738,533 shares, compared to its average volume of 939,949. The business has a 50-day simple moving average of $45.06 and a 200-day simple moving average of $46.76. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -13.44 and a beta of 1.82. Twist Bioscience Co. has a 12 month low of $27.41 and a 12 month high of $60.90.

Analyst Upgrades and Downgrades

TWST has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of Twist Bioscience from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Evercore ISI increased 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. Wolfe Research assumed coverage on Twist Bioscience in a research note on Friday. They set an "outperform" rating and a $60.00 price target for the company. Barclays cut their price objective on Twist Bioscience from $55.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, November 19th. Finally, Leerink Partners boosted 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $51.90.

Insider Transactions at Twist Bioscience

In other Twist Bioscience news, insider Dennis Cho sold 659 shares of the firm'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 completion of the transaction, the insider now owns 94,481 shares of the company's stock, valued at approximately $3,926,630.36. This trade represents a 0.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Emily M. Leproust sold 14,334 shares of the company's stock in a transaction dated 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 directly owns 589,552 shares in the company, valued at $26,294,019.20. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,787 shares of company stock worth $4,584,508. 3.92% of the stock is currently owned by insiders.

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.