Walleye Capital LLC Makes New $28,000 Investment in 23andMe Holding Co. (NASDAQ:ME)

Walleye Capital LLC purchased a new stake in shares of 23andMe Holding Co. (NASDAQ:MEGet Rating) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 11,138 shares of the company’s stock, valued at approximately $28,000.

A number of other large investors have also recently modified their holdings of the business. Cornerstone Wealth Management LLC bought a new position in 23andMe in the second quarter valued at $28,000. Wedbush Securities Inc. purchased a new position in shares of 23andMe during the 2nd quarter valued at about $29,000. New World Advisors LLC purchased a new position in shares of 23andMe during the 1st quarter valued at about $34,000. Geneos Wealth Management Inc. bought a new stake in 23andMe in the 1st quarter worth approximately $34,000. Finally, Salem Investment Counselors Inc. purchased a new stake in 23andMe in the first quarter worth approximately $38,000. Institutional investors own 21.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Cowen initiated coverage on shares of 23andMe in a research note on Thursday, September 22nd. They issued an “outperform” rating and a $6.00 price target for the company. Credit Suisse Group reduced their target price on 23andMe from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, November 8th. Finally, Cowen assumed coverage on 23andMe in a research note on Thursday, September 22nd. They issued an “outperform” rating and a $6.00 target price for the company.

Insider Transactions at 23andMe

In other news, insider Kenneth J. Hillan sold 8,753 shares of the stock in a transaction 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 sale, the insider now directly owns 196,083 shares of the company’s stock, valued at 713,742.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 28.82% of the company’s stock.

23andMe Stock Performance

Shares of ME opened at 2.90 on Tuesday. 23andMe Holding Co. has a fifty-two week low of 2.12 and a fifty-two week high of 10.13. The firm’s 50-day simple moving average is 3.06 and its two-hundred day simple moving average is 3.03. The stock has a market cap of $1.32 billion, a PE ratio of -4.03 and a beta of 1.24.

23andMe Profile

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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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Institutional Ownership by Quarter for 23andMe (NASDAQ:ME)

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