23andMe (NASDAQ:ME) Price Target Cut to $0.47

23andMe (NASDAQ:ME) had its target price cut by equities researchers at Citigroup from $0.85 to $0.47 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 31.95% from the company’s current price.

23andMe Stock Performance

Shares of NASDAQ ME opened at $0.36 on Tuesday. The firm has a 50 day moving average price of $0.55 and a two-hundred day moving average price of $0.73. The stock has a market cap of $172.02 million, a P/E ratio of -0.32 and a beta of 1.27. 23andMe has a 52-week low of $0.35 and a 52-week high of $2.21.

23andMe (NASDAQ:ME) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.17) earnings per share for the quarter. The company had revenue of $44.75 million during 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 other 23andMe news, insider Kathy L. Hibbs sold 38,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $0.73, for a total transaction of $28,140.04. Following the completion of the transaction, the insider now owns 1,280,349 shares in the company, valued at approximately $934,654.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 154,192 shares of company stock worth $88,660 over the last ninety days. Insiders own 27.55% of the company’s stock.

Institutional Trading of 23andMe

Large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas grew its position in shares of 23andMe by 22.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,321 shares of the company’s stock worth $58,000 after buying an additional 4,298 shares during the period. ProShare Advisors LLC grew its holdings in 23andMe by 26.1% in the first quarter. ProShare Advisors LLC now owns 21,854 shares of the company’s stock worth $84,000 after purchasing an additional 4,525 shares during the period. US Bancorp DE increased its stake in 23andMe by 9.6% in the first quarter. US Bancorp DE now owns 59,416 shares of the company’s stock valued at $229,000 after purchasing an additional 5,188 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of 23andMe by 25.3% during the first quarter. Principal Financial Group Inc. now owns 28,756 shares of the company’s stock valued at $66,000 after purchasing an additional 5,810 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of 23andMe by 8.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 105,667 shares of the company’s stock worth $185,000 after purchasing an additional 8,360 shares in the last quarter. 36.10% of the stock is currently owned by institutional investors and hedge funds.

About 23andMe

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.