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

23andMe Holding Co. (NASDAQ:ME) shares are set to reverse split before the market opens on 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 closing bell on Tuesday, October 15th.

23andMe Trading Down 2.7 %

ME stock opened at $0.29 on Friday. The firm has a 50 day simple moving average of $0.33 and a 200-day simple moving average of $0.42. The company has a market capitalization of $143.06 million, a P/E ratio of -0.21 and a beta of 1.20. 23andMe has a twelve month low of $0.27 and a twelve month high of $1.02.

23andMe (NASDAQ:ME) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.14) earnings per share for the quarter. 23andMe had a negative return on equity of 83.22% and a negative net margin of 317.03%. The business had revenue of $40.41 million for the quarter, compared to analyst estimates of $50.30 million.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On 23andMe

A number of institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its stake in 23andMe by 68.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 60,653 shares of the company’s stock valued at $32,000 after acquiring an additional 24,604 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted 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 purchasing an additional 71,204 shares during the last quarter. Point72 DIFC Ltd bought a new stake in 23andMe in the second quarter worth $43,000. Levin Capital Strategies L.P. acquired a new position in 23andMe during the second quarter worth $61,000. Finally, AQR Capital Management LLC raised its holdings in 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 buying an additional 263,468 shares in the last quarter. Institutional investors and hedge funds own 36.10% of the company’s stock.

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.