23andMe (NASDAQ:ME) Hits New 12-Month Low – Time to Sell?

23andMe Holding Co. (NASDAQ:ME)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.04 and last traded at $5.30, with a volume of 75651 shares changing hands. The stock had previously closed at $5.40.

Analyst Ratings Changes

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

23andMe Stock Performance

The firm has a 50-day simple moving average of $0.33 and a 200 day simple moving average of $0.42.

23andMe (NASDAQ:ME) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($2.80) earnings per share (EPS) for the quarter. The company had revenue of $40.41 million during the quarter, compared to analysts’ expectations of $50.30 million. 23andMe had a negative net margin of 317.03% and a negative return on equity of 83.22%.

Institutional Trading of 23andMe

Several large investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in 23andMe during the second quarter valued at $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of 23andMe in the 2nd quarter worth approximately $203,000. AQR Capital Management LLC lifted its holdings in 23andMe by 145.8% during the 2nd quarter. AQR Capital Management LLC now owns 444,222 shares of the company’s stock worth $174,000 after buying an additional 263,468 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of 23andMe by 410.4% during 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 last quarter. Finally, Levin Capital Strategies L.P. bought a new stake in shares of 23andMe in the 2nd quarter valued at $61,000. 36.10% of the stock is currently owned by institutional investors and hedge funds.

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.