Connective Portfolio Management LLC Lowers Holdings in Twist Bioscience Co. (NASDAQ:TWST)

Connective Portfolio Management LLC reduced its stake in shares of Twist Bioscience Co. (NASDAQ:TWST) by 60.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the company’s stock after selling 4,800 shares during the quarter. Connective Portfolio Management LLC’s holdings in Twist Bioscience were worth $145,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of Twist Bioscience during the 2nd quarter worth $43,000. Blue Trust Inc. lifted its stake in shares of Twist Bioscience by 2,912.8% during the 2nd quarter. Blue Trust Inc. now owns 1,175 shares of the company’s stock worth $58,000 after purchasing an additional 1,136 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Twist Bioscience during the 2nd quarter worth $61,000. Nisa Investment Advisors LLC increased its position in Twist Bioscience by 31.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,288 shares of the company’s stock valued at $113,000 after buying an additional 546 shares in the last quarter. Finally, CWM LLC increased its position in Twist Bioscience by 27.4% during the 2nd quarter. CWM LLC now owns 2,437 shares of the company’s stock valued at $120,000 after buying an additional 524 shares in the last quarter.

Wall Street Analysts Forecast Growth

TWST has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Twist Bioscience from $28.00 to $35.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Robert W. Baird upped their target price on Twist Bioscience from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group increased their price objective on Twist Bioscience from $45.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Evercore ISI increased their price objective on Twist Bioscience from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, TD Cowen increased their price objective on Twist Bioscience from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.63.

Twist Bioscience Stock Performance

Twist Bioscience stock traded down $0.54 during midday trading on Wednesday, hitting $42.00. 18,269 shares of the company were exchanged, compared to its average volume of 975,401. The firm has a market capitalization of $2.46 billion, a PE ratio of -12.66 and a beta of 1.77. Twist Bioscience Co. has a fifty-two week low of $14.42 and a fifty-two week high of $60.90. The business has a fifty day simple moving average of $44.37 and a two-hundred day simple moving average of $43.85.

Twist Bioscience (NASDAQ:TWST) last posted its earnings results on Friday, August 2nd. The company reported ($1.47) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.71). The company had revenue of $81.50 million for the quarter, compared to analyst estimates of $77.40 million. Twist Bioscience had a negative return on equity of 32.17% and a negative net margin of 74.63%. The firm’s revenue was up 27.7% on a year-over-year basis. During the same period last year, the business earned ($1.01) earnings per share. As a group, equities analysts expect that Twist Bioscience Co. will post -3.13 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Dennis Cho sold 3,104 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $43.21, for a total transaction of $134,123.84. Following the sale, the insider now directly owns 75,289 shares of the company’s stock, valued at $3,253,237.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Twist Bioscience news, COO Patrick John Finn sold 2,885 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $39.93, for a total transaction of $115,198.05. Following the transaction, the chief operating officer now owns 168,327 shares in the company, valued at approximately $6,721,297.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Cho sold 3,104 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $43.21, for a total value of $134,123.84. Following the transaction, the insider now owns 75,289 shares in the company, valued at $3,253,237.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,390 shares of company stock valued at $1,793,567 over the last ninety days. Company insiders own 3.92% of the company’s stock.

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.