23andMe Holding Co. (NASDAQ:ME) Sees Large Decline in Short Interest

23andMe Holding Co. (NASDAQ:ME) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 1,030,000 shares, a decrease of 95.2% from the September 30th total of 21,650,000 shares. Based on an average daily trading volume, of 185,800 shares, the short-interest ratio is presently 5.5 days. Currently, 6.7% of the company’s stock are sold short.

23andMe Stock Performance

ME traded down $0.18 on Friday, reaching $4.67. The company had a trading volume of 348,205 shares, compared to its average volume of 263,521. The company’s fifty day moving average is $6.24 and its 200 day moving average is $8.11. The stock has a market cap of $114.46 million, a P/E ratio of -0.19 and a beta of 1.20. 23andMe has a fifty-two week low of $4.60 and a fifty-two week high of $20.40.

23andMe (NASDAQ:ME) last announced its earnings results on Thursday, August 8th. The company reported ($2.80) earnings per share for the quarter. The firm had revenue of $40.41 million for the quarter, compared to the consensus estimate of $50.30 million. 23andMe had a negative return on equity of 83.22% and a negative net margin of 317.03%.

Wall Street Analyst Weigh In

Separately, TD Cowen cut 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

Hedge funds and other institutional investors have recently modified their holdings of the company. Wittenberg Investment Management Inc. boosted its stake in shares of 23andMe by 63.9% in the first quarter. Wittenberg Investment Management Inc. now owns 2,290,945 shares of the company’s stock valued at $1,219,000 after buying an additional 893,552 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of 23andMe in the second quarter worth $203,000. AQR Capital Management LLC raised 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 purchasing an additional 263,468 shares in the last quarter. Mirador Capital Partners LP lifted its position in 23andMe by 11.2% during the first quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock worth $181,000 after purchasing an additional 34,321 shares during the period. Finally, Levin Capital Strategies L.P. acquired a new stake in 23andMe during the second quarter worth about $61,000. 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.