23andMe Sees Unusually Large Options Volume (NASDAQ:ME)

23andMe Holding Co. (NASDAQ:ME) saw unusually large options trading activity on Wednesday. Stock investors bought 7,134 call options on the stock. This is an increase of approximately 812% compared to the average daily volume of 782 call options.

Institutional Trading of 23andMe

A number of hedge funds and other institutional investors have recently modified their holdings of ME. FMR LLC lifted its stake in 23andMe by 24.0% during the third quarter. FMR LLC now owns 993,848 shares of the company’s stock worth $345,000 after purchasing an additional 192,099 shares in the last quarter. 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 worth $1,476,000 after acquiring an additional 28,252 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in 23andMe during the 4th quarter valued at about $26,000. MassMutual Private Wealth & Trust FSB acquired a new position in 23andMe in the 4th quarter valued at about $40,000. Finally, Leavell Investment Management Inc. purchased a new stake in 23andMe during the fourth quarter worth about $32,000. 36.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of 23andMe in a report on Friday, March 7th.

23andMe Price Performance

Shares of NASDAQ:ME traded down $0.04 during midday trading on Wednesday, hitting $1.87. The company had a trading volume of 40,489 shares, compared to its average volume of 265,631. 23andMe has a twelve month low of $1.34 and a twelve month high of $12.76. The stock has a market cap of $50.17 million, a price-to-earnings ratio of -0.12 and a beta of 1.19. The business’s 50-day simple moving average is $2.68 and its 200-day simple moving average is $4.02.

23andMe (NASDAQ:ME) last posted its quarterly earnings results on Tuesday, January 28th. The company reported ($1.02) EPS for the quarter. 23andMe had a negative return on equity of 170.07% and a negative net margin of 183.39%.

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.