Nikko Asset Management Americas Inc. Reduces Stock Holdings in Twist Bioscience Co. (NASDAQ:TWST)

Nikko Asset Management Americas Inc. reduced its stake in Twist Bioscience Co. (NASDAQ:TWST) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,612,964 shares of the company’s stock after selling 247,883 shares during the period. Twist Bioscience accounts for about 1.3% of Nikko Asset Management Americas Inc.’s holdings, making the stock its 20th biggest position. Nikko Asset Management Americas Inc. owned 4.38% of Twist Bioscience worth $121,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TWST. Thrivent Financial for Lutherans purchased a new position in shares of Twist Bioscience during the third quarter worth approximately $43,992,000. State Street Corp grew its position in shares of Twist Bioscience by 19.9% during the third quarter. State Street Corp now owns 3,167,353 shares of the company’s stock worth $143,101,000 after acquiring an additional 526,028 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Twist Bioscience by 188.5% during the third quarter. Wellington Management Group LLP now owns 797,737 shares of the company’s stock worth $36,042,000 after acquiring an additional 521,272 shares during the last quarter. Jennison Associates LLC grew its position in shares of Twist Bioscience by 80.2% during the fourth quarter. Jennison Associates LLC now owns 680,778 shares of the company’s stock worth $31,636,000 after acquiring an additional 302,884 shares during the last quarter. Finally, ARK Investment Management LLC grew its position in shares of Twist Bioscience by 4.4% during the fourth quarter. ARK Investment Management LLC now owns 5,595,865 shares of the company’s stock worth $260,040,000 after acquiring an additional 237,772 shares during the last quarter.

Wall Street Analysts Forecast Growth

TWST has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Twist Bioscience from $48.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Wolfe Research started coverage on shares of Twist Bioscience in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Twist Bioscience from $35.00 to $40.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Barclays set a $58.00 price objective on shares of Twist Bioscience and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Scotiabank reiterated an “outperform” rating on shares of Twist Bioscience in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Twist Bioscience has a consensus rating of “Moderate Buy” and a consensus target price of $54.40.

Insider Transactions at Twist Bioscience

In related news, CFO Adam Laponis sold 5,886 shares of Twist Bioscience stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $43.26, for a total transaction of $254,628.36. Following the completion of the sale, the chief financial officer now owns 110,096 shares in the company, valued at approximately $4,762,752.96. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Paula Green sold 918 shares of Twist Bioscience stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.91, for a total value of $37,555.38. Following the sale, the senior vice president now owns 130,912 shares of the company’s stock, valued at approximately $5,355,609.92. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,712 shares of company stock valued at $1,597,720 in the last 90 days. 3.01% of the stock is currently owned by insiders.

Twist Bioscience Price Performance

Twist Bioscience stock opened at $39.96 on Monday. Twist Bioscience Co. has a one year low of $27.41 and a one year high of $60.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.62 and a current ratio of 4.96. The business has a fifty day moving average of $45.76 and a two-hundred day moving average of $45.29. The company has a market cap of $2.38 billion, a P/E ratio of -11.82 and a beta of 2.15.

Twist Bioscience (NASDAQ:TWST) last released its earnings results on Monday, February 3rd. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.09. Twist Bioscience had a negative return on equity of 32.69% and a negative net margin of 59.76%. The company had revenue of $88.70 million during the quarter, compared to the consensus estimate of $86.96 million. During the same quarter last year, the company earned ($0.75) earnings per share. Twist Bioscience’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, analysts predict that Twist Bioscience Co. will post -2.12 earnings per share for the current fiscal year.

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.