23andMe (NASDAQ:ME) Shares to Reverse Split on Wednesday, October 16th

23andMe Holding Co. (NASDAQ:ME)’s stock is scheduled to reverse split on the morning of Wednesday, October 16th. The 1-20 reverse split was announced on Friday, October 11th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, October 15th.

23andMe Trading Down 2.7 %

Shares of NASDAQ ME opened at $0.29 on Friday. The stock has a market cap of $143.06 million, a PE ratio of -0.21 and a beta of 1.20. The company has a 50-day moving average of $0.33 and a 200 day moving average of $0.42. 23andMe has a 12-month low of $0.27 and a 12-month high of $1.02.

23andMe (NASDAQ:ME) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter. 23andMe had a negative net margin of 317.03% and a negative return on equity of 83.22%. The company had revenue of $40.41 million during the quarter, compared to analysts’ expectations of $50.30 million.

Analysts Set New Price Targets

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

Institutional Trading of 23andMe

Several institutional investors have recently made changes to their positions in ME. Point72 DIFC Ltd acquired a new stake in shares of 23andMe during the 2nd quarter worth about $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in 23andMe during the second quarter worth about $203,000. AQR Capital Management LLC increased 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 valued at $174,000 after acquiring an additional 263,468 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of 23andMe by 410.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock valued at $35,000 after acquiring an additional 71,204 shares during the period. Finally, Levin Capital Strategies L.P. acquired a new position in shares of 23andMe in the 2nd quarter worth approximately $61,000. Hedge funds and other institutional investors own 36.10% of the company’s stock.

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.