Victory Capital Management Inc. Raises Stock Position in Twist Bioscience Co. (NASDAQ:TWST)

Victory Capital Management Inc. increased its position in shares of Twist Bioscience Co. (NASDAQ:TWST) by 7.7% during the third quarter, Holdings Channel reports. The institutional investor owned 331,809 shares of the company’s stock after buying an additional 23,638 shares during the quarter. Victory Capital Management Inc.’s holdings in Twist Bioscience were worth $14,991,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC increased its stake in shares of Twist Bioscience by 38.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 134,215 shares of the company’s stock worth $4,605,000 after buying an additional 37,376 shares during the period. Principal Financial Group Inc. increased its stake in shares of Twist Bioscience by 210.2% during the second quarter. Principal Financial Group Inc. now owns 122,911 shares of the company’s stock worth $6,057,000 after buying an additional 83,287 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Twist Bioscience during the first quarter worth approximately $389,000. Price T Rowe Associates Inc. MD increased its stake in shares of Twist Bioscience by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,127 shares of the company’s stock worth $1,103,000 after buying an additional 2,292 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Twist Bioscience during the second quarter worth approximately $402,000.

Twist Bioscience Trading Down 0.3 %

TWST stock opened at $41.32 on Wednesday. The company has a market capitalization of $2.42 billion, a P/E ratio of -10.82 and a beta of 1.78. Twist Bioscience Co. has a twelve month low of $23.00 and a twelve month high of $60.90. The business has a 50 day simple moving average of $43.99 and a 200-day simple moving average of $46.18.

Insider Activity

In other news, CEO Emily M. Leproust sold 14,334 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $44.60, for a total value of $639,296.40. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dennis Cho sold 659 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $41.56, for a total value of $27,388.04. Following the completion of the sale, the insider now directly owns 94,481 shares of the company’s stock, valued at $3,926,630.36. The trade was a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,118 shares of company stock valued at $4,391,151. 3.92% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TWST has been the topic of a number of recent research reports. Barclays cut their target price on shares of Twist Bioscience from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday. Leerink Partners increased their price target on shares of Twist Bioscience from $45.00 to $48.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Evercore ISI increased their price target on shares of Twist Bioscience from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Robert W. Baird increased their price target on shares of Twist Bioscience from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Scotiabank increased their price target on shares of Twist Bioscience from $50.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.78.

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.