Concorde Asset Management LLC Sells 495 Shares of Twist Bioscience Co. (NASDAQ:TWST)

Concorde Asset Management LLC lowered its holdings in Twist Bioscience Co. (NASDAQ:TWST) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,906 shares of the company’s stock after selling 495 shares during the period. Concorde Asset Management LLC’s holdings in Twist Bioscience were worth $493,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TWST. Thrivent Financial for Lutherans bought a new stake in Twist Bioscience in the 3rd quarter valued at about $43,992,000. Point72 Asset Management L.P. raised its position 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 buying an additional 613,057 shares in the last quarter. Fred Alger Management LLC raised its position in shares of Twist Bioscience by 720.7% in the 2nd quarter. Fred Alger Management LLC now owns 654,877 shares of the company’s stock valued at $32,272,000 after buying an additional 575,080 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Twist Bioscience by 4,133.1% in the 2nd quarter. Victory Capital Management Inc. now owns 308,171 shares of the company’s stock valued at $15,187,000 after buying an additional 300,891 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new position in shares of Twist Bioscience in the 2nd quarter valued at approximately $9,462,000.

Wall Street Analyst Weigh In

TWST has been the subject of several analyst reports. Barclays dropped their target price on shares of Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday. Robert W. Baird boosted their target price on shares of Twist Bioscience from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday. Leerink Partners boosted their target price on shares of Twist Bioscience from $45.00 to $48.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on shares of Twist Bioscience from $28.00 to $35.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Finally, Scotiabank upped their price objective on shares of Twist Bioscience from $50.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.78.

Insider Activity

In other news, CEO Emily M. Leproust sold 14,334 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $44.60, for a total value of $639,296.40. Following the sale, the chief executive officer now directly owns 589,552 shares of the company’s stock, valued at approximately $26,294,019.20. This represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Chess sold 3,600 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $47.26, for a total transaction of $170,136.00. Following the transaction, the director now directly owns 21,641 shares in the company, valued at approximately $1,022,753.66. This represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,118 shares of company stock valued at $4,391,151. 3.92% of the stock is currently owned by insiders.

Twist Bioscience Stock Performance

NASDAQ:TWST opened at $41.89 on Friday. The firm’s fifty day moving average is $43.93 and its 200-day moving average is $46.15. Twist Bioscience Co. has a 52 week low of $23.07 and a 52 week high of $60.90. The firm has a market cap of $2.49 billion, a P/E ratio of -11.57 and a beta of 1.78.

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.