Twist Bioscience Corporation $TWST Stock: Pekin Hardy Strauss Inc. Cuts Stake

Pekin Hardy Strauss Inc. decreased its stake in Twist Bioscience Corporation (NASDAQ:TWST) by 87.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the company’s stock after selling 20,400 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Twist Bioscience were worth $580,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Western Wealth Management LLC bought a new stake in Twist Bioscience in the first quarter valued at $31,000. Strs Ohio bought a new position in shares of Twist Bioscience during the first quarter valued at $33,000. Root Financial Partners LLC bought a new position in shares of Twist Bioscience during the third quarter valued at $33,000. PNC Financial Services Group Inc. lifted its holdings in shares of Twist Bioscience by 89.7% during the first quarter. PNC Financial Services Group Inc. now owns 958 shares of the company’s stock valued at $46,000 after acquiring an additional 453 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in shares of Twist Bioscience in the 1st quarter valued at $54,000.

Insider Activity at Twist Bioscience

In other news, CFO Adam Laponis sold 2,462 shares of the firm’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $156.30, for a total value of $384,810.60. Following the completion of the sale, the chief financial officer directly owned 98,114 shares in the company, valued at approximately $15,335,218.20. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Robert Werner sold 1,482 shares of Twist Bioscience stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $188.88, for a total value of $279,920.16. Following the completion of the transaction, the chief accounting officer directly owned 42,917 shares of the company’s stock, valued at $8,106,162.96. This represents a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 608,597 shares of company stock valued at $94,672,268. 3.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TWST has been the topic of several analyst reports. Robert W. Baird upped their target price on shares of Twist Bioscience from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Leerink Partners lifted their price target on shares of Twist Bioscience from $160.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. Jefferies Financial Group initiated coverage on shares of Twist Bioscience in a research report on Thursday, October 8th. They issued a “hold” rating and a $150.00 price target on the stock. UBS Group assumed coverage on shares of Twist Bioscience in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $144.00 price target on the stock. Finally, Piper Sandler upped their price objective on shares of Twist Bioscience from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $153.00.

Twist Bioscience Trading Up 0.1%

Shares of TWST opened at $120.79 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.38 and a current ratio of 2.67. The company has a market cap of $7.57 billion, a price-to-earnings ratio of -54.41 and a beta of 2.25. The stock has a fifty day moving average price of $151.35 and a two-hundred day moving average price of $91.08. Twist Bioscience Corporation has a 52-week low of $23.30 and a 52-week high of $219.71.

Key Headlines Impacting Twist Bioscience

Here are the key news stories impacting Twist Bioscience this week:

• Positive Sentiment: Twist launched MRD Express, potentially expanding its presence in minimal residual disease testing. Investors may look for further details on the product and business outlook around earnings. Article: Twist Bioscience stock enters earnings week after MRD Express launch
• Neutral Sentiment: CEO Emily Leproust and three other insiders sold a combined 6,677 shares at $135.40. The sales were disclosed as covering tax withholding on equity-award vesting, and each seller retained a substantial stake.
• Negative Sentiment: Shares fell amid a negative report from The Bear Cave/Hunterbrook. The provided article headline does not specify the report’s allegations, but its release appears to have hurt sentiment. Article: Twist Bioscience falls amid negative report

About Twist Bioscience

Twist Bioscience Corporation is a biotechnology company that develops and manufactures synthetic DNA and related products for life sciences research. The company uses a proprietary silicon-based platform to produce high-quality DNA at scale, supporting applications in synthetic biology, drug discovery and development, agriculture, and academic and industrial research.

Its offerings include synthetic genes, oligonucleotides, gene fragments, variant libraries, and antibody discovery products.