Weiss Ratings Reiterates “Sell (E+)” Rating for 23andMe (NASDAQ:ME)

23andMe (NASDAQ:ME)‘s stock had its “sell (e+)” rating reiterated by equities researchers at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

23andMe Trading Down 7.7 %

ME stock opened at $2.86 on Friday. The stock has a 50-day moving average price of $3.46 and a 200-day moving average price of $5.18. 23andMe has a 1-year low of $2.65 and a 1-year high of $16.52. The firm has a market cap of $74.70 million, a PE ratio of -0.19 and a beta of 1.14.

23andMe (NASDAQ:ME) last posted its quarterly earnings data on Tuesday, January 28th. The company reported ($1.02) earnings per share for the quarter. 23andMe had a negative return on equity of 145.99% and a negative net margin of 183.39%.

Hedge Funds Weigh In On 23andMe

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of 23andMe by 0.7% during the third quarter. Geode Capital Management LLC now owns 4,246,093 shares of the company’s stock worth $1,476,000 after acquiring an additional 28,252 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of 23andMe in the fourth quarter worth $26,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of 23andMe in the fourth quarter worth $40,000. Leavell Investment Management Inc. purchased a new stake in shares of 23andMe in the fourth quarter worth $32,000. Finally, FMR LLC raised its position in shares of 23andMe by 24.0% in the third quarter. FMR LLC now owns 993,848 shares of the company’s stock worth $345,000 after buying an additional 192,099 shares in the last quarter. 36.10% of the stock is owned by 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.