23andMe (NASDAQ:ME) Posts Quarterly Earnings Results

23andMe (NASDAQ:ME) posted its earnings results on Tuesday. The company reported ($2.32) EPS for the quarter, reports. 23andMe had a negative return on equity of 129.98% and a negative net margin of 318.39%. The business had revenue of $44.07 million during the quarter, compared to the consensus estimate of $50.30 million.

23andMe Trading Down 0.8 %

NASDAQ ME opened at $3.79 on Friday. 23andMe has a fifty-two week low of $3.79 and a fifty-two week high of $20.40. The business’s fifty day moving average is $5.68 and its 200 day moving average is $7.64.

Analysts Set New Price Targets

Separately, TD Cowen lowered shares of 23andMe from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, August 7th.

Institutional Trading of 23andMe

Hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in 23andMe during the 3rd quarter valued at approximately $805,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of 23andMe in the second quarter worth $203,000. AQR Capital Management LLC boosted its position in shares of 23andMe by 145.8% during the second quarter. AQR Capital Management LLC now owns 444,222 shares of the company’s stock worth $174,000 after acquiring an additional 263,468 shares during the last quarter. FMR LLC grew its stake in 23andMe by 24.0% during the third quarter. FMR LLC now owns 993,848 shares of the company’s stock valued at $345,000 after acquiring an additional 192,099 shares in the last quarter. Finally, Levin Capital Strategies L.P. bought a new stake in 23andMe in the 2nd quarter valued at $61,000. 36.10% of the stock is owned by hedge funds and other institutional investors.

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.