QRG Capital Management Inc. Sells 3,177 Shares of Twist Bioscience Co. (NASDAQ:TWST)

QRG Capital Management Inc. reduced its stake in shares of Twist Bioscience Co. (NASDAQ:TWST) by 11.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 24,345 shares of the company’s stock after selling 3,177 shares during the period. QRG Capital Management Inc.’s holdings in Twist Bioscience were worth $1,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TWST. International Assets Investment Management LLC boosted its holdings in shares of Twist Bioscience by 4,418.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,925 shares of the company’s stock worth $223,000 after purchasing an additional 4,816 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Twist Bioscience by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,119 shares of the company’s stock worth $98,000 after buying an additional 381 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Twist Bioscience by 1.8% in the third quarter. New York State Common Retirement Fund now owns 482,606 shares of the company’s stock worth $21,804,000 after buying an additional 8,529 shares in the last quarter. Farther Finance Advisors LLC grew its position in Twist Bioscience by 1,173.8% during the third quarter. Farther Finance Advisors LLC now owns 3,401 shares of the company’s stock valued at $154,000 after acquiring an additional 3,134 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Twist Bioscience by 67.5% during the third quarter. Principal Financial Group Inc. now owns 205,864 shares of the company’s stock worth $9,301,000 after acquiring an additional 82,953 shares in the last quarter.

Twist Bioscience Price Performance

Shares of Twist Bioscience stock opened at $37.11 on Tuesday. The company has a market cap of $2.21 billion, a PE ratio of -10.98 and a beta of 1.87. The business has a 50 day moving average of $47.45 and a 200 day moving average of $45.63. Twist Bioscience Co. has a 52 week low of $27.41 and a 52 week high of $60.90. The company has a quick ratio of 4.62, a current ratio of 4.96 and a debt-to-equity ratio of 0.03.

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

Analysts Set New Price Targets

TWST has been the topic of several recent research reports. Wolfe Research began coverage on shares of Twist Bioscience in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price on the stock. Robert W. Baird boosted their target price on Twist Bioscience from $48.00 to $54.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Barclays set a $58.00 price target on Twist Bioscience and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Scotiabank reiterated an “outperform” rating on shares of Twist Bioscience in a research report on Tuesday, February 4th. Finally, TD Cowen restated a “buy” rating and issued a $58.00 target price on shares of Twist Bioscience in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Twist Bioscience presently has an average rating of “Moderate Buy” and a consensus price target of $54.40.

Insiders Place Their Bets

In related news, CFO Adam Laponis sold 5,886 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $43.26, for a total value of $254,628.36. Following the sale, the chief financial officer now directly owns 110,096 shares of the company’s stock, valued at $4,762,752.96. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis Cho sold 806 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $49.35, for a total value of $39,776.10. Following the transaction, the insider now directly owns 112,221 shares of the company’s stock, valued at $5,538,106.35. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,180 shares of company stock worth $1,821,971 over the last three months. Company insiders own 3.01% of the company’s stock.

About Twist Bioscience

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.