23andMe (NASDAQ:ME) Sets New 12-Month Low – Here’s What Happened

23andMe Holding Co. (NASDAQ:ME)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $4.72 and last traded at $4.72, with a volume of 25053 shares changing hands. The stock had previously closed at $4.85.

Analyst Upgrades and Downgrades

Separately, TD Cowen lowered 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 moving average price of $6.24 and a 200-day moving average price of $8.11. The stock has a market cap of $118.87 million, a PE ratio of -0.19 and a beta of 1.20.

23andMe (NASDAQ:ME) last posted its quarterly earnings results 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 return on equity of 83.22% and a negative net margin of 317.03%.

Hedge Funds Weigh In On 23andMe

A number of hedge funds have recently bought and sold shares of ME. Vanguard Personalized Indexing Management LLC raised its position in 23andMe by 410.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock worth $35,000 after buying an additional 71,204 shares during the last quarter. Point72 DIFC Ltd purchased a new position in 23andMe in the 2nd quarter worth about $43,000. Levin Capital Strategies L.P. bought a new stake in shares of 23andMe during the 2nd quarter valued at about $61,000. AQR Capital Management LLC grew its stake in shares of 23andMe by 145.8% during the 2nd quarter. AQR Capital Management LLC now owns 444,222 shares of the company’s stock valued at $174,000 after purchasing an additional 263,468 shares during the period. Finally, Mirador Capital Partners LP grew its stake in shares of 23andMe by 11.2% during the 1st quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock valued at $181,000 after purchasing an additional 34,321 shares during the period. 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.