23andMe (NASDAQ:ME) Price Target Cut to $0.47 by Analysts at Citigroup

23andMe (NASDAQ:ME) had its price target trimmed by Citigroup from $0.85 to $0.47 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

23andMe Stock Down 2.9 %

Shares of ME opened at $0.39 on Tuesday. The firm has a market cap of $188.39 million, a price-to-earnings ratio of -0.35 and a beta of 1.27. 23andMe has a 52-week low of $0.38 and a 52-week high of $2.26. The business’s 50 day moving average is $0.55 and its two-hundred day moving average is $0.73.

23andMe (NASDAQ:ME) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.17) earnings per share (EPS) for the quarter. The firm had revenue of $44.75 million for the quarter, compared to analyst estimates of $56.30 million. 23andMe had a negative net margin of 210.48% and a negative return on equity of 52.99%.

Insider Activity at 23andMe

In related news, insider Kathy L. Hibbs sold 38,548 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $0.73, for a total transaction of $28,140.04. Following the sale, the insider now directly owns 1,280,349 shares of the company’s stock, valued at approximately $934,654.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 154,192 shares of company stock valued at $88,660. Corporate insiders own 27.55% of the company’s stock.

Institutional Investors Weigh In On 23andMe

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its position in 23andMe by 361.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 36,049 shares of the company’s stock worth $33,000 after buying an additional 28,229 shares during the period. Wittenberg Investment Management Inc. increased its position in 23andMe by 88.8% in the third quarter. Wittenberg Investment Management Inc. now owns 1,144,484 shares of the company’s stock worth $1,119,000 after buying an additional 538,230 shares during the period. Vanguard Group Inc. increased its position in 23andMe by 3.1% in the third quarter. Vanguard Group Inc. now owns 28,145,216 shares of the company’s stock worth $27,518,000 after buying an additional 834,504 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in 23andMe in the third quarter worth $37,000. Finally, State Board of Administration of Florida Retirement System increased its position in 23andMe by 88.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 138,749 shares of the company’s stock worth $136,000 after buying an additional 64,969 shares during the period. 36.10% of the stock is owned by institutional investors and hedge funds.

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.