Jennison Associates LLC Buys 302,884 Shares of Twist Bioscience Co. (NASDAQ:TWST)

Jennison Associates LLC raised its stake in shares of Twist Bioscience Co. (NASDAQ:TWST) by 80.2% in the 4th quarter, HoldingsChannel reports. The firm owned 680,778 shares of the company’s stock after purchasing an additional 302,884 shares during the period. Jennison Associates LLC’s holdings in Twist Bioscience were worth $31,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TWST. Massachusetts Financial Services Co. MA lifted its holdings in shares of Twist Bioscience by 215.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,314 shares of the company’s stock worth $1,324,000 after acquiring an additional 20,035 shares during the last quarter. Barclays PLC lifted its stake in Twist Bioscience by 214.8% during the third quarter. Barclays PLC now owns 153,039 shares of the company’s stock worth $6,913,000 after purchasing an additional 104,420 shares during the last quarter. FMR LLC boosted its holdings in shares of Twist Bioscience by 6.0% in the 3rd quarter. FMR LLC now owns 218,561 shares of the company’s stock worth $9,875,000 after purchasing an additional 12,327 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Twist Bioscience during the 4th quarter valued at about $1,059,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Twist Bioscience by 128.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 38,032 shares of the company’s stock valued at $1,718,000 after buying an additional 21,357 shares in the last quarter.

Twist Bioscience Price Performance

Shares of NASDAQ:TWST opened at $52.02 on Wednesday. Twist Bioscience Co. has a 1 year low of $27.41 and a 1 year high of $60.90. The stock’s 50-day moving average is $48.63 and its 200 day moving average is $46.21. The company has a market cap of $3.09 billion, a PE ratio of -14.45 and a beta of 1.87.

Twist Bioscience (NASDAQ:TWST) last announced 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 32.27% and a negative net margin of 66.69%. The company had revenue of $88.70 million during the quarter, compared to the consensus estimate of $86.96 million. During the same quarter in the prior year, the company earned ($0.75) earnings per share. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. Analysts expect that Twist Bioscience Co. will post -2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TWST has been the subject of several research reports. TD Cowen reiterated a “buy” rating and set a $58.00 price target on shares of Twist Bioscience in a research report on Tuesday, November 26th. Scotiabank increased their target price on shares of Twist Bioscience from $54.00 to $62.00 and gave the company a “sector outperform” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Twist Bioscience from $35.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday. Wolfe Research initiated coverage on Twist Bioscience in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on Twist Bioscience from $48.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.80.

Insider Transactions at Twist Bioscience

In related news, insider Dennis Cho sold 1,507 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $48.00, for a total value of $72,336.00. Following the sale, the insider now directly owns 91,163 shares of the company’s stock, valued at $4,375,824. This represents a 1.63 % 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, COO Patrick John Finn sold 2,422 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $50.17, for a total value of $121,511.74. Following the transaction, the chief operating officer now directly owns 272,044 shares of the company’s stock, valued at $13,648,447.48. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,707 shares of company stock valued at $2,343,623. Company insiders own 3.01% of the company’s stock.

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.