Traders Purchase High Volume of Call Options on 23andMe (NASDAQ:ME)

23andMe Holding Co. (NASDAQ:ME) was the recipient of unusually large options trading activity on Wednesday. Traders bought 7,134 call options on the company. This is an increase of approximately 812% compared to the typical volume of 782 call options.

Hedge Funds Weigh In On 23andMe

A number of hedge funds have recently modified their holdings of ME. Shay Capital LLC lifted its stake in shares of 23andMe by 71.7% in the fourth quarter. Shay Capital LLC now owns 702,530 shares of the company’s stock worth $2,283,000 after acquiring an additional 293,358 shares during the period. Virtu Financial LLC acquired a new position in shares of 23andMe in the 4th quarter worth approximately $49,000. Leavell Investment Management Inc. bought a new stake in shares of 23andMe in the 4th quarter valued at $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of 23andMe during the fourth quarter worth $40,000. Finally, FNY Investment Advisers LLC bought a new position in 23andMe during the fourth quarter worth $26,000. Institutional investors and hedge funds own 36.10% of the company’s stock.

23andMe Stock Down 3.7 %

Shares of ME stock opened at $1.84 on Thursday. 23andMe has a twelve month low of $1.34 and a twelve month high of $12.76. The stock’s fifty day simple moving average is $2.64 and its 200 day simple moving average is $4.01. The firm has a market capitalization of $49.36 million, a P/E ratio of -0.12 and a beta of 1.19.

23andMe (NASDAQ:ME) last released its quarterly earnings data on Tuesday, January 28th. The company reported ($1.02) earnings per share (EPS) for the quarter. 23andMe had a negative net margin of 183.39% and a negative return on equity of 170.07%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 23andMe in a report on Friday, March 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.