23andMe (NASDAQ:ME) Now Covered by Analysts at Cowen

Cowen began coverage on shares of 23andMe (NASDAQ:MEGet Rating) in a report issued on Thursday morning, The Fly reports. The brokerage issued an outperform rating and a $6.00 price objective on the stock.

ME has been the topic of several other 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 price objective on 23andMe from $11.00 to $7.00 and set an outperform rating on the stock in a research note on Friday, May 27th.

23andMe Trading Down 4.5 %

Shares of ME stock opened at 2.79 on Thursday. 23andMe has a 12-month low of 2.12 and a 12-month high of 13.68. The stock’s 50-day moving average price is 3.38 and its 200-day moving average price is 3.18. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -4.57 and a beta of 1.18.

23andMe (NASDAQ:MEGet Rating) last issued its earnings results on Monday, August 8th. The company reported -0.20 earnings per share (EPS) for the quarter. 23andMe had a negative return on equity of 29.57% and a negative net margin of 95.61%. The firm had revenue of 64.50 million during the quarter, compared to the consensus estimate of 61.60 million. During the same period last year, the firm posted ($0.25) earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year.

Insiders Place Their Bets

In other 23andMe news, insider Kenneth J. Hillan sold 8,753 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of 3.64, for a total transaction of 31,860.92. Following the completion of the transaction, the insider now owns 196,083 shares in the company, valued at 713,742.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 28.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ME. Northern Trust Corp boosted its holdings in shares of 23andMe by 14.7% in the fourth quarter. Northern Trust Corp now owns 170,253 shares of the company’s stock valued at $1,134,000 after purchasing an additional 21,766 shares during the period. Raymond James & Associates boosted its holdings in shares of 23andMe by 129.8% in the fourth quarter. Raymond James & Associates now owns 36,427 shares of the company’s stock valued at $243,000 after purchasing an additional 20,572 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in 23andMe by 87.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 40,063 shares of the company’s stock worth $267,000 after buying an additional 18,650 shares in the last quarter. Principal Financial Group Inc. bought a new position in 23andMe in the fourth quarter worth approximately $74,000. Finally, Teacher Retirement System of Texas bought a new position in 23andMe in the fourth quarter worth approximately $77,000. Hedge funds and other institutional investors own 21.64% of the company’s stock.

23andMe Company Profile

(Get Rating)

23andMe Holding Co operates as a consumer genetics testing 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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