Weiss Ratings Reaffirms Sell (E+) Rating for 23andMe (NASDAQ:ME)

Weiss Ratings reiterated their sell (e+) rating on shares of 23andMe (NASDAQ:ME) in a research report sent to investors on Saturday,Weiss Ratings reports.

23andMe Price Performance

Shares of ME remained flat at $3.61 during midday trading on Friday. The stock had a trading volume of 475,228 shares, compared to its average volume of 194,032. The firm has a market cap of $94.29 million, a PE ratio of -0.14 and a beta of 1.14. 23andMe has a 12-month low of $2.65 and a 12-month high of $16.52. The company’s 50-day moving average is $3.51 and its two-hundred day moving average is $5.65.

23andMe (NASDAQ:ME) last released its earnings results on Tuesday, November 12th. The company reported ($2.32) EPS for the quarter. 23andMe had a negative return on equity of 129.98% and a negative net margin of 318.39%. The company had revenue of $44.07 million during the quarter, compared to analyst estimates of $50.30 million.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ME. Point72 Asia Singapore Pte. Ltd. purchased a new stake in 23andMe in the second quarter valued at approximately $203,000. Geode Capital Management LLC lifted its stake in 23andMe by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,246,093 shares of the company’s stock valued at $1,476,000 after acquiring an additional 28,252 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of 23andMe in the 2nd quarter valued at $43,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of 23andMe by 410.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock worth $35,000 after acquiring an additional 71,204 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of 23andMe during the fourth quarter worth $26,000. 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.