Concorde Asset Management LLC Reduces Stock Position in Twist Bioscience Co. (NASDAQ:TWST)

Concorde Asset Management LLC decreased its position in Twist Bioscience Co. (NASDAQ:TWST) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,401 shares of the company’s stock after selling 1,512 shares during the quarter. Concorde Asset Management LLC’s holdings in Twist Bioscience were worth $562,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Artisan Partners Limited Partnership grew its position in shares of Twist Bioscience by 111.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,723,305 shares of the company’s stock worth $137,241,000 after buying an additional 1,961,621 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Twist Bioscience by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,708 shares of the company’s stock valued at $46,732,000 after acquiring an additional 284,884 shares in the last quarter. Baillie Gifford & Co. increased its position in Twist Bioscience by 12.1% during the 1st quarter. Baillie Gifford & Co. now owns 1,227,528 shares of the company’s stock valued at $42,116,000 after purchasing an additional 132,770 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Twist Bioscience by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 448,232 shares of the company’s stock worth $16,522,000 after purchasing an additional 5,728 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Twist Bioscience by 4,133.1% in the 2nd quarter. Victory Capital Management Inc. now owns 308,171 shares of the company’s stock worth $15,187,000 after purchasing an additional 300,891 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Twist Bioscience from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. raised their target price on Twist Bioscience from $28.00 to $35.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Guggenheim started coverage on Twist Bioscience in a research note on Tuesday, June 4th. They issued a “buy” rating and a $53.00 price target on the stock. Barclays decreased their price objective on Twist Bioscience from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Robert W. Baird increased their price target on shares of Twist Bioscience from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.22.

Insider Buying and Selling

In other Twist Bioscience news, CEO Emily M. Leproust sold 1,114 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $48.00, for a total transaction of $53,472.00. Following the sale, the chief executive officer now directly owns 504,732 shares in the company, valued at approximately $24,227,136. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Emily M. Leproust sold 1,114 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $48.00, for a total transaction of $53,472.00. Following the sale, the chief executive officer now owns 504,732 shares of the company’s stock, valued at approximately $24,227,136. 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 business’s 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 $45,400.41. Following the transaction, the senior vice president now directly owns 88,837 shares of the company’s stock, valued at $3,547,261.41. The disclosure for this sale can be found here. Insiders sold a total of 15,125 shares of company stock worth $664,784 in the last three months. Insiders own 3.92% of the company’s stock.

Twist Bioscience Price Performance

Shares of NASDAQ:TWST opened at $47.02 on Thursday. The company has a market capitalization of $2.75 billion, a PE ratio of -13.99 and a beta of 1.76. The business has a fifty day moving average price of $47.50 and a 200-day moving average price of $42.91. Twist Bioscience Co. has a 1-year low of $14.42 and a 1-year high of $60.90.

Twist Bioscience (NASDAQ:TWST) last released its quarterly earnings data 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 firm had revenue of $81.50 million for the quarter, compared to the consensus estimate of $77.40 million. Twist Bioscience had a negative net margin of 74.63% and a negative return on equity of 32.17%. The firm’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.01) earnings per share. On average, sell-side analysts anticipate that Twist Bioscience Co. will post -3.13 earnings per share for the current fiscal year.

Twist Bioscience 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.