23andMe (NASDAQ:ME) Shares Gap Up to $2.21

Shares of 23andMe Holding Co. (NASDAQ:ME – Get Rating) gapped up before the market opened on Monday . The stock had previously closed at 2.21, but opened at 2.33. 23andMe shares last traded at 2.16, with a volume of 78,887 shares changing hands.

Several research firms have recently weighed in on ME. Credit Suisse Group reduced their price objective on 23andMe from $11.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Citigroup cut their price objective on 23andMe from $6.00 to $3.00 and set a “neutral” rating for the company in a report on Friday, May 27th.

The firm has a market capitalization of $1.02 billion, a P/E ratio of -3.56 and a beta of 1.45. The business has a 50 day moving average price of 2.99 and a 200 day moving average price of 4.55.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC boosted its holdings in shares of 23andMe by 13.1% in the 1st quarter. Virtu Financial LLC now owns 102,378 shares of the company’s stock worth $392,000 after acquiring an additional 11,819 shares in the last quarter. Prescott General Partners LLC boosted its holdings in shares of 23andMe by 26.0% in the 1st quarter. Prescott General Partners LLC now owns 1,423,829 shares of the company’s stock worth $5,453,000 after acquiring an additional 293,450 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of 23andMe in the 1st quarter worth approximately $38,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of 23andMe in the 1st quarter worth approximately $50,000. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of 23andMe by 340.5% in the 1st quarter. Ensign Peak Advisors Inc now owns 30,040 shares of the company’s stock worth $115,000 after acquiring an additional 23,220 shares in the last quarter. 14.14% of the stock is currently owned by institutional investors and hedge funds.

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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