23andMe (NASDAQ:ME) Shares Gap Down – Time to Sell?

23andMe Holding Co. (NASDAQ:ME) gapped down prior to trading on Thursday . The stock had previously closed at $5.34, but opened at $5.07. 23andMe shares last traded at $5.13, with a volume of 148,705 shares.

Analyst Upgrades and Downgrades

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

23andMe Trading Down 5.8 %

The firm has a market capitalization of $2.47 billion, a P/E ratio of -3.85 and a beta of 1.20. The stock has a 50-day simple moving average of $6.50 and a two-hundred day simple moving average of $8.32.

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 business had revenue of $40.41 million for 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%.

Hedge Funds Weigh In On 23andMe

Several institutional investors have recently bought and sold shares of ME. Vanguard Personalized Indexing Management LLC boosted its stake in 23andMe by 410.4% in the second 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 in the last quarter. Point72 DIFC Ltd acquired a new stake in 23andMe in the second quarter valued at approximately $43,000. Levin Capital Strategies L.P. acquired a new stake in 23andMe in the second quarter valued at approximately $61,000. Mirador Capital Partners LP boosted its stake in 23andMe by 11.2% in the first quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock valued at $181,000 after acquiring an additional 34,321 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in 23andMe by 145.8% in 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 in the last quarter. 36.10% of the stock is owned by hedge funds and other institutional investors.

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.