Legacy Capital Group California Inc. Sells 1,203 Shares of Twist Bioscience Co. (NASDAQ:TWST)

Legacy Capital Group California Inc. cut its stake in Twist Bioscience Co. (NASDAQ:TWST) by 4.3% in the second quarter, HoldingsChannel.com reports. The fund owned 27,018 shares of the company’s stock after selling 1,203 shares during the period. Legacy Capital Group California Inc.’s holdings in Twist Bioscience were worth $1,331,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets grew its stake in Twist Bioscience by 34.8% in the first quarter. BNP Paribas Financial Markets now owns 171,823 shares of the company’s stock valued at $5,895,000 after acquiring an additional 44,349 shares during the period. UBS Group AG grew its position in shares of Twist Bioscience by 106.4% in the 4th 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 period. Nikko Asset Management Americas Inc. increased its stake in Twist Bioscience by 2.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,583,443 shares of the company’s stock worth $131,835,000 after purchasing an additional 99,511 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in Twist Bioscience during the 1st quarter worth approximately $1,144,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Twist Bioscience in the first quarter valued at approximately $300,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TWST. Guggenheim started coverage on shares of Twist Bioscience in a report on Tuesday, June 4th. They set a “buy” rating and a $53.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Twist Bioscience from $28.00 to $35.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Scotiabank increased their price objective on Twist Bioscience from $43.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, May 6th. TD Cowen raised 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. Finally, Barclays cut their price target 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 research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.22.

Twist Bioscience Stock Down 3.3 %

TWST traded down $1.48 during trading hours on Tuesday, reaching $42.91. The company’s stock had a trading volume of 601,193 shares, compared to its average volume of 1,117,080. The company’s 50-day moving average is $50.24 and its 200-day moving average is $42.26. Twist Bioscience Co. has a 52 week low of $14.42 and a 52 week high of $60.90.

Twist Bioscience (NASDAQ:TWST) last announced 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 the consensus estimate 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 quarterly revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.01) EPS. As a group, research analysts expect that Twist Bioscience Co. will post -3.13 earnings per share for the current year.

Insider Transactions at Twist Bioscience

In other Twist Bioscience news, insider Dennis Cho sold 709 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $39.93, for a total value of $28,310.37. Following the completion of the sale, the insider now owns 78,996 shares of the company’s stock, valued at approximately $3,154,310.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Twist Bioscience news, CEO Emily M. Leproust sold 5,139 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $39.93, for a total transaction of $205,200.27. Following the sale, the chief executive officer now directly owns 499,593 shares in the company, valued at $19,948,748.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis Cho sold 709 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 $28,310.37. Following the completion of the transaction, the insider now owns 78,996 shares of the company’s stock, valued at $3,154,310.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,327 shares of company stock worth $978,760. Company insiders own 3.92% of the company’s stock.

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.