23andMe (NASDAQ:ME) Trading 13.1% Higher – Still a Buy?

Shares of 23andMe Holding Co. (NASDAQ:ME) were up 13.1% during trading on Friday . The company traded as high as $3.63 and last traded at $3.55. Approximately 332,099 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 281,945 shares. The stock had previously closed at $3.14.

Analyst Upgrades and Downgrades

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

23andMe Price Performance

The business’s fifty day simple moving average is $5.03 and its 200 day simple moving average is $7.17. The stock has a market cap of $92.73 million, a price-to-earnings ratio of -0.14 and a beta of 1.26.

23andMe (NASDAQ:ME) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.32) EPS for the quarter. The company had revenue of $44.07 million for the quarter, compared to the consensus estimate of $50.30 million. 23andMe had a negative return on equity of 129.98% and a negative net margin of 318.39%.

Institutional Investors Weigh In On 23andMe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. bought a new stake in shares of 23andMe during the 2nd quarter worth $61,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of 23andMe by 410.4% in the second 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 acquired a new stake in shares of 23andMe during the second quarter valued at approximately $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of 23andMe in the 2nd quarter valued at approximately $203,000. Finally, AQR Capital Management LLC grew its position in 23andMe by 145.8% during the 2nd quarter. AQR Capital Management LLC now owns 444,222 shares of the company’s stock worth $174,000 after purchasing an additional 263,468 shares in the last quarter. Institutional investors own 36.10% of the company’s stock.

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.