23andMe (NASDAQ:ME) PT Lowered to $0.47

23andMe (NASDAQ:ME) had its target price dropped by stock analysts at Citigroup from $0.85 to $0.47 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 31.95% from the stock’s previous close.

23andMe Trading Down 8.7 %

Shares of ME stock opened at $0.36 on Tuesday. 23andMe has a 12 month low of $0.35 and a 12 month high of $2.21. The company has a market capitalization of $172.02 million, a P/E ratio of -0.32 and a beta of 1.27. The stock has a 50 day moving average of $0.55 and a two-hundred day moving average of $0.73.

23andMe (NASDAQ:ME) last issued its earnings results on Wednesday, February 7th. The company reported ($0.17) EPS for the quarter. The firm had revenue of $44.75 million during the quarter, compared to the consensus estimate of $56.30 million. 23andMe had a negative return on equity of 52.99% and a negative net margin of 210.48%.

Insider Buying and Selling at 23andMe

In other 23andMe news, insider Kathy L. Hibbs sold 38,548 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $0.73, for a total value of $28,140.04. Following the sale, the insider now directly owns 1,280,349 shares in the company, valued at $934,654.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 154,192 shares of company stock valued at $88,660. 27.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 23andMe

A number of hedge funds and other institutional investors have recently bought and sold shares of ME. Vanguard Group Inc. increased its position in 23andMe by 259.1% in the 1st quarter. Vanguard Group Inc. now owns 17,551,125 shares of the company’s stock valued at $67,221,000 after acquiring an additional 12,663,268 shares in the last quarter. BlackRock Inc. lifted its holdings in 23andMe by 41.0% during the 3rd quarter. BlackRock Inc. now owns 16,102,036 shares of the company’s stock worth $46,053,000 after buying an additional 4,683,691 shares in the last quarter. Voya Investment Management LLC boosted its position in 23andMe by 127.0% in the 4th quarter. Voya Investment Management LLC now owns 5,517,344 shares of the company’s stock valued at $5,040,000 after buying an additional 3,086,866 shares during the last quarter. State Street Corp increased its stake in shares of 23andMe by 201.0% in the 2nd quarter. State Street Corp now owns 3,567,075 shares of the company’s stock valued at $8,846,000 after buying an additional 2,382,040 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of 23andMe during the first quarter worth $7,692,000. 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.