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

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

ME has been the topic of a number of other reports. Citigroup cut their price objective on 23andMe from $6.00 to $3.00 and set a neutral rating on the stock in a research note on Friday, May 27th. Cowen initiated coverage on 23andMe in a research note on Thursday. They issued an outperform rating and a $6.00 price objective on the stock. Finally, Credit Suisse Group cut 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 NASDAQ ME opened at 2.79 on Thursday. 23andMe has a one year low of 2.12 and a one year high of 13.68. The business has a 50-day moving average price of 3.38 and a two-hundred day moving average price of 3.18. The firm has a market capitalization of $1.25 billion, a PE ratio of -4.57 and a beta of 1.18.

23andMe (NASDAQ:MEGet Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported -0.20 earnings per share 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 for the quarter, compared to analysts’ expectations of 61.60 million. During the same period last year, the business earned ($0.25) earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis.

Insiders Place Their Bets

In other 23andMe news, insider Kenneth J. Hillan sold 8,753 shares of 23andMe stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of 3.64, for a total value of 31,860.92. Following the transaction, the insider now directly owns 196,083 shares of the company’s stock, valued at approximately 713,742.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 28.82% of the company’s stock.

Institutional Trading of 23andMe

Several institutional investors have recently modified their holdings of ME. Vanguard Group Inc. boosted its stake in 23andMe by 259.1% in the 1st quarter. Vanguard Group Inc. now owns 17,551,125 shares of the company’s stock valued at $67,221,000 after buying an additional 12,663,268 shares in the last quarter. Revelation Capital Management LLC acquired a new stake in 23andMe in the 4th quarter valued at $31,087,000. State Street Corp boosted its stake in 23andMe by 201.0% in the 2nd quarter. State Street Corp now owns 3,567,075 shares of the company’s stock valued at $8,846,000 after buying an additional 2,382,040 shares in the last quarter. BlackRock Inc. boosted its stake in 23andMe by 121.7% in the 1st quarter. BlackRock Inc. now owns 3,128,372 shares of the company’s stock valued at $11,980,000 after buying an additional 1,717,071 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in 23andMe by 51.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,033,600 shares of the company’s stock valued at $7,523,000 after buying an additional 1,025,200 shares in the last quarter. Institutional investors and hedge funds own 21.64% of the company’s stock.

About 23andMe

(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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