ARK Investment Management LLC Buys 427,274 Shares of Twist Bioscience Co. (NASDAQ:TWST)

ARK Investment Management LLC raised its stake in shares of Twist Bioscience Co. (NASDAQ:TWST) by 6.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,213,257 shares of the company’s stock after purchasing an additional 427,274 shares during the period. Twist Bioscience accounts for about 1.6% of ARK Investment Management LLC’s investment portfolio, making the stock its 19th biggest holding. ARK Investment Management LLC owned approximately 12.48% of Twist Bioscience worth $265,881,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Twist Bioscience by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 442,504 shares of the company’s stock valued at $8,965,000 after purchasing an additional 14,511 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Twist Bioscience by 559.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 106,572 shares of the company’s stock worth $2,159,000 after acquiring an additional 90,413 shares during the period. Dark Forest Capital Management LP boosted its stake in shares of Twist Bioscience by 121.3% in the third quarter. Dark Forest Capital Management LP now owns 29,451 shares of the company’s stock worth $597,000 after acquiring an additional 16,142 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Twist Bioscience in the third quarter worth about $451,000. Finally, Invesco Ltd. boosted its stake in shares of Twist Bioscience by 1,496.2% in the third quarter. Invesco Ltd. now owns 831,006 shares of the company’s stock worth $16,836,000 after acquiring an additional 778,944 shares during the period.

Twist Bioscience Trading Up 2.2 %

Shares of NASDAQ TWST opened at $34.48 on Thursday. The business’s 50 day moving average price is $36.46 and its 200-day moving average price is $28.77. Twist Bioscience Co. has a fifty-two week low of $11.46 and a fifty-two week high of $43.21.

Twist Bioscience (NASDAQ:TWST) last issued its quarterly earnings results on Friday, February 2nd. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.03. The firm had revenue of $71.50 million for the quarter, compared to the consensus estimate of $67.59 million. Twist Bioscience had a negative return on equity of 32.16% and a negative net margin of 78.44%. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.74) earnings per share. Analysts forecast that Twist Bioscience Co. will post -3.17 earnings per share for the current year.

Analysts Set New Price Targets

TWST has been the subject of a number of research reports. Scotiabank increased their price target on Twist Bioscience from $30.00 to $43.00 and gave the company a “sector outperform” rating in a research note on Monday, February 5th. Barclays upped their price objective on Twist Bioscience from $30.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group upgraded Twist Bioscience from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $45.00 in a research report on Wednesday, January 17th.

Insiders Place Their Bets

In other Twist Bioscience news, Director Robert Chess sold 4,110 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $34.98, for a total transaction of $143,767.80. Following the transaction, the director now directly owns 64,169 shares in the company, valued at approximately $2,244,631.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Twist Bioscience news, Director Robert Chess sold 4,110 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $34.98, for a total transaction of $143,767.80. Following the sale, the director now owns 64,169 shares of the company’s stock, valued at approximately $2,244,631.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Emily M. Leproust sold 1,128 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $33.52, for a total value of $37,810.56. Following the sale, the chief executive officer now directly owns 515,281 shares in the company, valued at approximately $17,272,219.12. The disclosure for this sale can be found here. Insiders have sold 8,301 shares of company stock worth $294,282 in the last ninety days. 3.92% of the stock is owned by company insiders.

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.