23andMe (NASDAQ:ME) Announces Quarterly Earnings Results

23andMe (NASDAQ:ME) posted its quarterly earnings results on Tuesday. The company reported ($2.32) EPS for the quarter, reports. 23andMe had a negative net margin of 318.39% and a negative return on equity of 111.49%. The business had revenue of $44.07 million during the quarter, compared to analysts’ expectations of $50.30 million.

23andMe Stock Performance

Shares of ME opened at $4.25 on Thursday. 23andMe has a 1 year low of $4.21 and a 1 year high of $20.40. The company has a market cap of $104.17 million, a price-to-earnings ratio of -0.17 and a beta of 1.26. The firm has a fifty day moving average of $5.73 and a 200-day moving average of $7.67.

Institutional Investors Weigh In On 23andMe

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its position in 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 in the last quarter. Point72 DIFC Ltd bought a new stake in shares of 23andMe in the 2nd quarter valued at approximately $43,000. Levin Capital Strategies L.P. bought a new stake in shares of 23andMe in the 2nd quarter valued at approximately $61,000. FMR LLC grew its holdings 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 purchasing an additional 192,099 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in 23andMe by 145.8% in the 2nd 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 period. 36.10% of the stock is currently owned by institutional investors.

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.

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.