23andMe (NASDAQ:ME) Trading Down 2.3%

23andMe Holding Co. (NASDAQ:ME)’s stock price fell 2.3% on Friday . The stock traded as low as $0.30 and last traded at $0.30. 1,250,183 shares changed hands during trading, a decline of 77% from the average session volume of 5,377,226 shares. The stock had previously closed at $0.31.

Wall Street Analysts Forecast Growth

Separately, TD Cowen cut 23andMe from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, August 7th.

23andMe Stock Performance

The firm has a fifty day moving average price of $0.39 and a 200 day moving average price of $0.46. The company has a market cap of $148.94 million, a price-to-earnings ratio of -0.22 and a beta of 1.19.

23andMe (NASDAQ:ME) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.14) earnings per share for the quarter. 23andMe had a negative return on equity of 83.22% and a negative net margin of 317.03%. The firm had revenue of $40.41 million for the quarter, compared to the consensus estimate of $50.30 million.

Institutional Investors Weigh In On 23andMe

A number of hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its stake in shares of 23andMe by 68.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 60,653 shares of the company’s stock valued at $32,000 after purchasing an additional 24,604 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 23andMe by 58.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,167 shares of the company’s stock valued at $56,000 after acquiring an additional 22,460 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in 23andMe by 410.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock worth $35,000 after buying an additional 71,204 shares during the period. Point72 DIFC Ltd purchased a new stake in 23andMe in the 2nd quarter worth approximately $43,000. Finally, Levin Capital Strategies L.P. bought a new position in shares of 23andMe in the 2nd quarter worth approximately $61,000. 36.10% of the stock is currently owned by institutional investors.

23andMe Company Profile

23andMe Holding Co operates as a consumer genetics testing company. The company operates in two segments, Consumer & Research Services and Therapeutics. The Consumer & Research Services segment provides a suite of genetic reports, including information on customers' genetic ancestral origins, personal genetic health risks, and chances of passing on certain rare carrier conditions to their children, as well as reports on how genetics can impact responses to medications.