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

Concorde Asset Management LLC decreased its holdings in Twist Bioscience Co. (NASDAQ:TWST) by 11.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its position in Twist Bioscience by 14.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 28,899 shares of the company’s stock valued at $1,424,000 after purchasing an additional 3,752 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Twist Bioscience by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,279 shares of the company’s stock valued at $457,000 after buying an additional 312 shares in the last quarter. O Neil Global Advisors Inc. bought a new position in shares of Twist Bioscience during the 2nd quarter valued at approximately $810,000. DekaBank Deutsche Girozentrale purchased a new stake in Twist Bioscience in the 2nd quarter worth approximately $61,000. Finally, ClariVest Asset Management LLC bought a new stake in Twist Bioscience during the 2nd quarter worth approximately $363,000.

Twist Bioscience Price Performance

Shares of NASDAQ TWST opened at $47.02 on Thursday. Twist Bioscience Co. has a 1 year low of $14.42 and a 1 year high of $60.90. The firm has a 50-day simple moving average of $47.50 and a two-hundred day simple moving average of $42.91. The company has a market cap of $2.75 billion, a P/E ratio of -13.99 and a beta of 1.76.

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

Insider Transactions at Twist Bioscience

In related news, SVP Paula Green sold 1,137 shares of the firm’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 $45,400.41. Following the transaction, the senior vice president now owns 88,837 shares of the company’s stock, valued at approximately $3,547,261.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Dennis Cho sold 709 shares of the 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 transaction, the insider now directly owns 78,996 shares in the company, valued at $3,154,310.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Paula Green sold 1,137 shares of the business’s 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 $45,400.41. Following the completion of the transaction, the senior vice president now directly owns 88,837 shares of the company’s stock, valued at approximately $3,547,261.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,125 shares of company stock worth $664,784. 3.92% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TWST has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Twist Bioscience from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Guggenheim initiated coverage on Twist Bioscience in a research note on Tuesday, June 4th. They issued a “buy” rating and a $53.00 price target for the company. TD Cowen boosted their price objective on Twist Bioscience from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Robert W. Baird upped their price objective on Twist Bioscience from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group lifted their target price on Twist Bioscience from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.22.

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.