William Blair Investment Management LLC Reduces Holdings in Twist Bioscience Co. (NASDAQ:TWST)

William Blair Investment Management LLC reduced its stake in shares of Twist Bioscience Co. (NASDAQ:TWST - Free Report) by 9.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,184,386 shares of the company's stock after selling 324,816 shares during the quarter. William Blair Investment Management LLC owned 5.47% of Twist Bioscience worth $156,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Twist Bioscience by 34.8% during the first quarter. BNP Paribas Financial Markets now owns 171,823 shares of the company's stock worth $5,895,000 after buying an additional 44,349 shares during the period. UBS Group AG grew its position in shares of Twist Bioscience by 106.4% in the fourth quarter. UBS Group AG now owns 213,467 shares of the company's stock valued at $7,868,000 after purchasing an additional 110,036 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Twist Bioscience in the first quarter valued at approximately $1,144,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Twist Bioscience in the first quarter valued at approximately $300,000. Finally, Sei Investments Co. grew its position in shares of Twist Bioscience by 32.7% in the first quarter. Sei Investments Co. now owns 223,555 shares of the company's stock valued at $7,670,000 after purchasing an additional 55,124 shares during the last quarter.

Insiders Place Their Bets

In other Twist Bioscience news, insider Dennis Cho sold 709 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $39.93, for a total transaction of $28,310.37. Following the transaction, the insider now owns 78,996 shares of the company's stock, valued at $3,154,310.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Dennis Cho sold 709 shares of the firm's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.93, for a total value of $28,310.37. Following the transaction, the insider now owns 78,996 shares of the company's stock, valued at approximately $3,154,310.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Paula Green sold 1,137 shares of the firm's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.93, for a total transaction of $45,400.41. Following the completion of the transaction, the senior vice president now directly owns 88,837 shares in the company, valued at approximately $3,547,261.41. The disclosure for this sale can be found here. Insiders have sold a total of 17,388 shares of company stock valued at $776,599 over the last quarter. Company insiders own 3.92% of the company's stock.

Wall Street Analysts Forecast Growth

TWST has been the topic of several research reports. The Goldman Sachs Group increased their price target on shares of Twist Bioscience from $45.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, July 9th. Robert W. Baird increased their price target on shares of Twist Bioscience from $40.00 to $46.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. TD Cowen increased their price target on shares of Twist Bioscience from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. raised their target price on shares of Twist Bioscience from $28.00 to $35.00 and gave the stock an "underweight" rating in a research report on Monday, August 5th. Finally, Barclays decreased their target price on shares of Twist Bioscience from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Twist Bioscience has an average rating of "Moderate Buy" and a consensus target price of $48.22.

Twist Bioscience Price Performance

NASDAQ:TWST traded up $2.38 during trading hours on Friday, reaching $46.95. 710,839 shares of the company were exchanged, compared to its average volume of 746,295. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -13.97 and a beta of 1.76. Twist Bioscience Co. has a 52-week low of $14.42 and a 52-week high of $60.90. The stock has a 50 day simple moving average of $47.68 and a 200 day simple moving average of $42.75.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($1.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.71). The company had revenue of $81.50 million for the quarter, compared to analysts' expectations of $77.40 million. Twist Bioscience had a negative return on equity of 32.17% and a negative net margin of 74.63%. The business's revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the prior year, the business earned ($1.01) EPS. On average, analysts predict that Twist Bioscience Co. will post -3.13 EPS for the current fiscal year.

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.