23andMe (NASDAQ:ME) Trading 10.2% Higher

23andMe Holding Co. (NASDAQ:MEGet Rating)’s share price traded up 10.2% during mid-day trading on Friday . The stock traded as high as 2.60 and last traded at 2.60. 128,154 shares were traded during mid-day trading, a decline of 96% from the average session volume of 3,423,090 shares. The stock had previously closed at 2.36.

ME has been the topic of a number of recent analyst reports. Citigroup reduced their target price on 23andMe from $6.00 to $3.00 and set a “neutral” rating on the stock in a report on Friday, May 27th. Credit Suisse Group reduced their target price on 23andMe from $11.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, May 27th.

The stock has a 50-day moving average of 2.88 and a 200-day moving average of 4.43. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -3.94 and a beta of 1.45.

23andMe (NASDAQ:MEGet Rating) last announced its earnings results on Thursday, May 26th. The company reported -0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of -0.13 by -0.03. 23andMe had a negative net margin of 79.99% and a negative return on equity of 25.41%. The firm had revenue of 100.56 million during the quarter, compared to analyst estimates of 102.79 million. 23andMe’s revenue was up 13.5% on a year-over-year basis.

Large investors have recently bought and sold shares of the business. New World Advisors LLC acquired a new position in shares of 23andMe during the 1st quarter worth approximately $34,000. Geneos Wealth Management Inc. acquired a new position in shares of 23andMe during the 1st quarter worth approximately $34,000. Steward Partners Investment Advisory LLC increased its holdings in shares of 23andMe by 262.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,433 shares of the company’s stock worth $36,000 after acquiring an additional 3,933 shares during the last quarter. Sciencast Management LP acquired a new position in shares of 23andMe during the 1st quarter worth approximately $38,000. Finally, Salem Investment Counselors Inc. acquired a new position in shares of 23andMe during the 1st quarter worth approximately $38,000. 14.14% of the stock is currently owned by hedge funds and other institutional investors.

About 23andMe (NASDAQ:ME)

23andMe Holding Co operates as a consumer genetics and research company. It operates through 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 based on genetic testing of a saliva sample through its spit kit.

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