23andMe Holding Co. (NASDAQ:ME) Short Interest Update
23andMe Holding Co. (NASDAQ:I – get grade) experienced significant growth in short interest in the month of November. As of November 30, there was short interest on a total of 27,610,000 shares, a growth of 6.1% from the November 15 total of 26,020,000 shares. Currently, 11.4% of the company’s shares are sold short. Based on an average daily volume of 3,070,000 shares, the short-term interest rate is currently 9.0 days.
23andMe Stock Performance
Actions of NASDAQ I It opened at 2.60 on Friday. The stock has a market capitalization of $1.18 billion, a price-earnings ratio of -3.61, and a beta of 1.20. The company has a 50-day SMA of 3.01 and a 200-day SMA of 3.05. 23andMe has a 52-week low of 2.12 and a 52-week high of 7.54.
Analyst Rating Changes
Several analysts have recently commented on the company. Credit Suisse Group lowered its price target on 23andMe from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, November 8. Cowen began coverage for 23andMe in a report on Thursday, September 22. They issued an “outperform” rating and a $6.00 price target on the stock. Berenberg Bank began coverage of 23andMe shares in a report on Monday, November 28. They set a “Buy” rating and a $7.00 price target on the company. Finally, Cowen began his coverage of 23andMe’s actions in a research note on Thursday, September 22. They issued an “outperform” rating and a $6.00 price target on the stock. One research analyst has rated the stock a Hold and four have assigned the stock a Buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of 5.60.
Internal transactions on 23andMe
In other news, tipster Kathy L. Hibbs sold 26,259 shares of 23andMe in a transaction that occurred on Monday, December 5. The shares sold at an average price of 3.25, for a total value of 85,341.75. Following the transaction, the informant now directly owns 235,829 shares of the company, valued at 766,444.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. 28.82% of the shares are owned by people with privileged information.
Institutional negotiation of 23andMe
Several large investors have recently increased or reduced their holdings in the business. MQS Management LLC acquired a new stake in 23andMe stock in the third quarter for approximately $41,000. Bank of New York Mellon Corp increased its stake in 23andMe by 70.0% in the third quarter. Bank of New York Mellon Corp now owns 809,336 shares of the company worth $2,315,000 after purchasing an additional 333,241 shares during the last quarter. The California State Teacher Retirement System increased its position in 23andMe by 50.4% during the third quarter. The State of California Teacher Retirement System now owns 313,665 shares of the company worth $897,000 after purchasing an additional 105,120 shares during the period. Advisory Research Inc. acquired a new position in 23andMe during the third quarter valued at approximately $36,000. Finally, Alphabet Inc. purchased a new position in 23andMe stock in the third quarter valued at approximately $19,267,000. 21.64% of the shares are owned by institutional investors.
Company profile 23andMe
23andMe Holding Co operates as a consumer genetic testing company. It operates through two segments, Consumer & Research Services and Therapeutics. The Consumer and Research Services segment provides a suite of genetic reports, including information on clients’ ancestral genetic origins, personal genetic health risks and the chances of transmitting certain carrier rare diseases to their children, as well as as reports on how genetics can affect responses. to drugs based on genetic testing of a saliva sample through their saliva kit.
Other reading
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