ARK Investment Management LLC Decreases Holdings in Twist Bioscience Co. (NASDAQ:TWST)

ARK Investment Management LLC lowered its holdings in shares of Twist Bioscience Co. (NASDAQ:TWST) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,358,093 shares of the company’s stock after selling 771,282 shares during the period. Twist Bioscience comprises about 2.2% of ARK Investment Management LLC’s investment portfolio, making the stock its 13th biggest position. ARK Investment Management LLC owned 9.20% of Twist Bioscience worth $242,079,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its stake in shares of Twist Bioscience by 1,021.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 673,057 shares of the company’s stock valued at $33,168,000 after acquiring an additional 613,057 shares during the last quarter. Fred Alger Management LLC lifted its position in Twist Bioscience by 720.7% in the second quarter. Fred Alger Management LLC now owns 654,877 shares of the company’s stock valued at $32,272,000 after purchasing an additional 575,080 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Twist Bioscience by 1.8% during the third quarter. New York State Common Retirement Fund now owns 482,606 shares of the company’s stock valued at $21,804,000 after purchasing an additional 8,529 shares during the period. Driehaus Capital Management LLC increased its stake in shares of Twist Bioscience by 63.0% in the second quarter. Driehaus Capital Management LLC now owns 388,643 shares of the company’s stock worth $19,152,000 after buying an additional 150,260 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in Twist Bioscience by 74.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 331,373 shares of the company’s stock valued at $16,330,000 after buying an additional 141,557 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TWST shares. Evercore ISI increased their target price on shares of Twist Bioscience from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Robert W. Baird lifted their price objective on Twist Bioscience from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Leerink Partners upped their target price on Twist Bioscience from $45.00 to $48.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. 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 report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Twist Bioscience from $28.00 to $35.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.22.

Insider Activity

In related news, CEO Emily M. Leproust sold 1,730 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $46.94, for a total transaction of $81,206.20. Following the sale, the chief executive officer now directly owns 495,523 shares of the company’s stock, valued at approximately $23,259,849.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Emily M. Leproust sold 1,730 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $46.94, for a total value of $81,206.20. Following the sale, the chief executive officer now owns 495,523 shares in the company, valued at approximately $23,259,849.62. This trade 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 the SEC website. Also, CFO Adam Laponis sold 856 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $41.81, for a total transaction of $35,789.36. Following the sale, the chief financial officer now owns 73,397 shares of the company’s stock, valued at approximately $3,068,728.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,656 shares of company stock worth $1,791,419. Insiders own 3.92% of the company’s stock.

Twist Bioscience Price Performance

Shares of NASDAQ TWST opened at $45.52 on Friday. Twist Bioscience Co. has a 1 year low of $15.85 and a 1 year high of $60.90. The firm has a 50-day moving average of $43.65 and a 200 day moving average of $45.43.

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.