JPMorgan Chase & Co. Sells 454,651 Shares of Twist Bioscience Co. (NASDAQ:TWST)

JPMorgan Chase & Co. lowered its position in shares of Twist Bioscience Co. (NASDAQ:TWST - Free Report) by 15.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,475,273 shares of the company's stock after selling 454,651 shares during the period. JPMorgan Chase & Co. owned approximately 4.17% of Twist Bioscience worth $111,833,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Twist Bioscience by 210.2% during the second quarter. Principal Financial Group Inc. now owns 122,911 shares of the company's stock valued at $6,057,000 after buying an additional 83,287 shares in the last quarter. Victory Capital Management Inc. raised its position in Twist Bioscience by 4,133.1% in the second quarter. Victory Capital Management Inc. now owns 308,171 shares of the company's stock worth $15,187,000 after acquiring an additional 300,891 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Twist Bioscience by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 16,187 shares of the company's stock worth $798,000 after purchasing an additional 308 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Twist Bioscience by 16.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 10,304 shares of the company's stock valued at $508,000 after acquiring an additional 1,475 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Twist Bioscience in the 2nd quarter valued at $556,000.

Insiders Place Their Bets

In other news, CFO Adam Laponis sold 856 shares of Twist Bioscience stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $41.81, for a total value of $35,789.36. Following the completion of the sale, the chief financial officer now directly owns 73,397 shares of the company's stock, valued at approximately $3,068,728.57. This trade represents a 1.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Paula Green sold 1,057 shares of Twist Bioscience stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $41.56, for a total value of $43,928.92. Following the completion of the sale, the senior vice president now owns 121,013 shares of the company's stock, valued at approximately $5,029,300.28. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,531 shares of company stock worth $3,605,742 over the last three months. 3.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TWST. Leerink Partners boosted their target price on shares of Twist Bioscience from $45.00 to $48.00 and gave the company a "market perform" rating in a research note on Thursday, October 17th. Evercore ISI boosted their target price on shares of Twist Bioscience from $52.00 to $56.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Scotiabank increased their price objective on Twist Bioscience from $50.00 to $54.00 and gave the company a "sector outperform" rating in a report on Tuesday, November 19th. Robert W. Baird boosted their target price on shares of Twist Bioscience from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Finally, Wolfe Research initiated coverage on Twist Bioscience in a research report on Friday, December 13th. They issued an "outperform" rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.90.

Twist Bioscience Stock Down 2.5 %

TWST traded down $1.16 during midday trading on Thursday, reaching $45.31. 622,223 shares of the company's stock were exchanged, compared to its average volume of 935,719. The business has a 50-day simple moving average of $45.91 and a two-hundred day simple moving average of $46.58. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -12.59 and a beta of 1.82. Twist Bioscience Co. has a one year low of $27.41 and a one year high of $60.90.

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.