23andMe (NASDAQ:ME) Shares Set to Reverse Split on Wednesday, October 16th

23andMe Holding Co. (NASDAQ:ME)’s stock is scheduled to reverse split on Wednesday, October 16th. The 1-20 reverse split was announced on Friday, October 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, October 15th.

23andMe Stock Performance

Shares of NASDAQ ME traded down $0.00 during midday trading on Monday, reaching $0.29. 1,031,468 shares of the stock were exchanged, compared to its average volume of 5,171,328. The stock has a market capitalization of $142.71 million, a P/E ratio of -0.22 and a beta of 1.20. 23andMe has a twelve month low of $0.27 and a twelve month high of $1.02. The company has a 50 day simple moving average of $0.33 and a 200 day simple moving average of $0.42.

23andMe (NASDAQ:ME) last released its earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter. The business had revenue of $40.41 million during the quarter, compared to analyst estimates of $50.30 million. 23andMe had a negative net margin of 317.03% and a negative return on equity of 83.22%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On 23andMe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in shares of 23andMe in the 2nd quarter valued at about $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in 23andMe during the second quarter worth $203,000. AQR Capital Management LLC boosted its stake in 23andMe by 145.8% in the second quarter. AQR Capital Management LLC now owns 444,222 shares of the company’s stock valued at $174,000 after buying an additional 263,468 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of 23andMe by 410.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock valued at $35,000 after purchasing an additional 71,204 shares during the last quarter. Finally, Levin Capital Strategies L.P. acquired a new position in shares of 23andMe during the second quarter worth $61,000. 36.10% of the stock is currently owned by institutional investors and hedge funds.

About 23andMe

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.