23andMe (NASDAQ:ME) Shares Gap Down – Time to Sell?

23andMe Holding Co. (NASDAQ:ME)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $5.34, but opened at $5.07. 23andMe shares last traded at $5.13, with a volume of 148,705 shares.

Analysts Set New Price Targets

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 has a 50-day moving average of $6.50 and a 200 day moving average of $8.32. The company has a market cap of $2.47 billion, a PE ratio of -3.85 and a beta of 1.20.

23andMe (NASDAQ:ME) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($2.80) EPS for the quarter. The company had revenue of $40.41 million during 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

A number of hedge funds have recently made changes to their positions in ME. Vanguard Personalized Indexing Management LLC boosted its stake 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 buying an additional 71,204 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of 23andMe in the 2nd quarter valued at approximately $43,000. Levin Capital Strategies L.P. bought a new stake in shares of 23andMe in the 2nd quarter valued at approximately $61,000. AQR Capital Management LLC lifted its stake in shares of 23andMe by 145.8% in the 2nd quarter. AQR Capital Management LLC now owns 444,222 shares of the company’s stock valued at $174,000 after purchasing an additional 263,468 shares during the last quarter. Finally, Mirador Capital Partners LP lifted its stake in shares of 23andMe by 11.2% in the 1st quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock valued at $181,000 after purchasing an additional 34,321 shares during 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.