Norges Bank Invests $7.58 Million in Twist Bioscience Co. (NASDAQ:TWST)

Norges Bank purchased a new position in shares of Twist Bioscience Co. (NASDAQ:TWST - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 163,210 shares of the company's stock, valued at approximately $7,584,000. Norges Bank owned about 0.27% of Twist Bioscience as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TWST. Wilmington Savings Fund Society FSB acquired a new stake in Twist Bioscience during the 3rd quarter worth approximately $34,000. Van ECK Associates Corp grew its stake in Twist Bioscience by 56.4% during the 4th quarter. Van ECK Associates Corp now owns 740 shares of the company's stock worth $34,000 after buying an additional 267 shares during the last quarter. US Bancorp DE boosted its stake in Twist Bioscience by 72.0% during the 4th quarter. US Bancorp DE now owns 1,436 shares of the company's stock valued at $67,000 after purchasing an additional 601 shares during the period. Beaird Harris Wealth Management LLC bought a new position in shares of Twist Bioscience during the 3rd quarter valued at about $95,000. Finally, KBC Group NV increased its holdings in shares of Twist Bioscience by 71.4% in the fourth quarter. KBC Group NV now owns 2,942 shares of the company's stock valued at $137,000 after buying an additional 1,226 shares in the last quarter.

Insider Buying and Selling at Twist Bioscience

In other news, Director Robert Chess sold 2,940 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $53.13, for a total transaction of $156,202.20. Following the completion of the transaction, the director now owns 18,173 shares of the company's stock, valued at approximately $965,531.49. The trade was a 13.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Emily M. Leproust sold 5,200 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $49.35, for a total transaction of $256,620.00. Following the completion of the transaction, the chief executive officer now owns 667,318 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 22,796 shares of company stock valued at $1,077,383. Corporate insiders own 3.01% of the company's stock.

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Twist Bioscience Price Performance

Twist Bioscience stock traded up $0.37 during midday trading on Monday, reaching $39.22. The company's stock had a trading volume of 75,409 shares, compared to its average volume of 974,971. The business has a 50-day moving average price of $41.83 and a 200-day moving average price of $44.65. Twist Bioscience Co. has a 52 week low of $27.41 and a 52 week high of $60.90. The company has a current ratio of 4.96, a quick ratio of 4.62 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.34 billion, a PE ratio of -11.59 and a beta of 2.34.

Twist Bioscience (NASDAQ:TWST - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.62) by $0.09. The firm had revenue of $88.70 million for the quarter, compared to the consensus estimate of $86.96 million. Twist Bioscience had a negative net margin of 59.76% and a negative return on equity of 32.69%. The company's revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.75) EPS. On average, sell-side analysts predict that Twist Bioscience Co. will post -2.12 EPS for the current year.

Analysts Set New Price Targets

TWST has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Twist Bioscience from $35.00 to $40.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. Robert W. Baird increased their price objective on Twist Bioscience from $48.00 to $54.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Scotiabank reaffirmed an "outperform" rating on shares of Twist Bioscience in a research report on Tuesday, February 4th. Barclays cut their target price on shares of Twist Bioscience from $58.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Guggenheim set a $50.00 target price on shares of Twist Bioscience in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.80.

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.