Short Interest in 23andMe Holding Co. (NASDAQ:ME) Decreases By 95.2%

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On 23andMe

Several institutional investors have recently bought and sold shares of ME. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of 23andMe during the 2nd quarter worth approximately $203,000. Mirador Capital Partners LP raised its stake in shares of 23andMe by 11.2% during the 1st 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 in the last quarter. Point72 DIFC Ltd bought a new stake in shares of 23andMe during the 2nd quarter worth approximately $43,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of 23andMe by 410.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock worth $35,000 after purchasing an additional 71,204 shares in the last quarter. Finally, Levin Capital Strategies L.P. bought a new stake in shares of 23andMe during the 2nd quarter worth approximately $61,000. Institutional investors own 36.10% of the company’s stock.

23andMe Trading Down 3.7 %

Shares of 23andMe stock traded down $0.18 during trading on Friday, reaching $4.67. The company’s stock had a trading volume of 349,563 shares, compared to its average volume of 263,521. The stock has a 50-day moving average price of $6.19 and a two-hundred day moving average price of $8.06. 23andMe has a one year low of $4.60 and a one year high of $20.40. The stock has a market capitalization of $2.29 billion, a P/E ratio of -3.34 and a beta of 1.20.

23andMe (NASDAQ:ME) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($2.80) earnings per share (EPS) for the quarter. 23andMe had a negative net margin of 317.03% and a negative return on equity of 83.22%. The business had revenue of $40.41 million during the quarter, compared to analyst estimates of $50.30 million.

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.