23andMe (NASDAQ:ME) Trading Down 2.3%

23andMe Holding Co. (NASDAQ:ME) was down 2.3% during trading on Friday . The stock traded as low as $0.30 and last traded at $0.30. Approximately 1,250,183 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 5,377,226 shares. The stock had previously closed at $0.31.

Wall Street Analyst Weigh In

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

23andMe Stock Performance

The firm’s 50-day simple moving average is $0.39 and its 200-day simple moving average is $0.46. The company has a market capitalization of $148.94 million, a price-to-earnings ratio of -0.22 and a beta of 1.19.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 23andMe by 58.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,167 shares of the company’s stock worth $56,000 after acquiring an additional 22,460 shares during the period. Wittenberg Investment Management Inc. lifted its stake in 23andMe by 22.1% during the fourth quarter. Wittenberg Investment Management Inc. now owns 1,397,393 shares of the company’s stock worth $1,277,000 after purchasing an additional 252,909 shares during the period. Mirador Capital Partners LP lifted its stake in 23andMe by 11.2% during the first quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock worth $181,000 after purchasing an additional 34,321 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in 23andMe by 68.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 60,653 shares of the company’s stock valued at $32,000 after purchasing an additional 24,604 shares in the last quarter. Finally, Levin Capital Strategies L.P. bought a new position in shares of 23andMe during the second quarter valued at $61,000. 36.10% of the stock is owned by institutional investors.

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.