23andMe (NASDAQ:ME) Price Target Cut to $0.47 by Analysts at Citigroup

23andMe (NASDAQ:ME) had its price target trimmed by Citigroup from $0.85 to $0.47 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

23andMe Stock Performance

NASDAQ ME opened at $0.39 on Tuesday. The firm has a 50 day simple moving average of $0.55 and a 200-day simple moving average of $0.73. 23andMe has a one year low of $0.38 and a one year high of $2.26. The firm has a market cap of $188.39 million, a price-to-earnings ratio of -0.35 and a beta of 1.27.

23andMe (NASDAQ:ME) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.17) EPS for the quarter. 23andMe had a negative net margin of 210.48% and a negative return on equity of 52.99%. The business had revenue of $44.75 million during the quarter, compared to analysts’ expectations of $56.30 million.

Insider Activity at 23andMe

In related news, insider Kathy L. Hibbs sold 38,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $0.73, for a total value of $28,140.04. Following the sale, the insider now owns 1,280,349 shares of the company’s stock, valued at $934,654.77. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 154,192 shares of company stock valued at $88,660 over the last 90 days. 27.55% of the stock is owned by corporate insiders.

Institutional Trading of 23andMe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. raised its holdings in 23andMe by 14.9% during the fourth quarter. American International Group Inc. now owns 151,308 shares of the company’s stock worth $138,000 after purchasing an additional 19,663 shares in the last quarter. Virtu Financial LLC acquired a new stake in 23andMe during the fourth quarter worth approximately $104,000. Price T Rowe Associates Inc. MD raised its holdings in 23andMe by 27.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 79,719 shares of the company’s stock worth $73,000 after purchasing an additional 16,994 shares in the last quarter. Barclays PLC raised its holdings in 23andMe by 400.7% during the fourth quarter. Barclays PLC now owns 472,960 shares of the company’s stock worth $432,000 after purchasing an additional 378,500 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in 23andMe by 127.0% during the fourth quarter. Voya Investment Management LLC now owns 5,517,344 shares of the company’s stock worth $5,040,000 after purchasing an additional 3,086,866 shares in the last quarter. Institutional investors and hedge funds own 36.10% of the company’s stock.

About 23andMe

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.