23andMe (NASDAQ:ME) Stock Price Down 2.3%

23andMe Holding Co. (NASDAQ:ME)’s share price traded down 2.3% during mid-day trading on Friday . The company 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 downgraded 23andMe from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, August 7th.

23andMe Stock Down 2.3 %

The firm has a market capitalization of $148.94 million, a price-to-earnings ratio of -0.22 and a beta of 1.19. The stock’s 50 day moving average price is $0.39 and its two-hundred day moving average price is $0.46.

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

Hedge Funds Weigh In On 23andMe

Several hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 23andMe by 58.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,167 shares of the company’s stock valued at $56,000 after purchasing an additional 22,460 shares during the last quarter. Wittenberg Investment Management Inc. raised its holdings in 23andMe by 22.1% in the 4th quarter. Wittenberg Investment Management Inc. now owns 1,397,393 shares of the company’s stock worth $1,277,000 after acquiring an additional 252,909 shares during the period. Mirador Capital Partners LP raised its holdings in 23andMe by 11.2% in the 1st quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock worth $181,000 after acquiring an additional 34,321 shares during the period. AQR Capital Management LLC lifted 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 acquiring an additional 263,468 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in 23andMe by 410.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock valued at $35,000 after acquiring an additional 71,204 shares during the period. 36.10% of the stock is owned by institutional investors and hedge funds.

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.