Allworth Financial LP boosted its position in 23andMe Holding Co. (NASDAQ:ME – Get Rating) by 1,332.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,654 shares of the company’s stock after acquiring an additional 26,654 shares during the quarter. Allworth Financial LP’s holdings in 23andMe were worth $2,026,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ME. Vanguard Group Inc. increased its stake in 23andMe by 25.8% in the third quarter. Vanguard Group Inc. now owns 23,643,554 shares of the company’s stock valued at $67,621,000 after purchasing an additional 4,842,320 shares during the last quarter. BlackRock Inc. increased its stake in 23andMe by 41.0% in the third quarter. BlackRock Inc. now owns 16,102,036 shares of the company’s stock valued at $46,053,000 after purchasing an additional 4,683,691 shares during the last quarter. Alphabet Inc. purchased a new position in 23andMe in the third quarter valued at approximately $19,267,000. State Street Corp increased its stake in 23andMe by 42.2% in the third quarter. State Street Corp now owns 5,073,256 shares of the company’s stock valued at $14,510,000 after purchasing an additional 1,506,181 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in 23andMe by 51.0% in the second quarter. Renaissance Technologies LLC now owns 3,033,600 shares of the company’s stock valued at $7,523,000 after purchasing an additional 1,025,200 shares during the last quarter. Institutional investors and hedge funds own 29.49% of the company’s stock.
Analysts Set New Price Targets
Separately, Berenberg Bank began coverage on shares of 23andMe in a research report on Monday, November 28th. They set a “buy” rating and a $7.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.60.
23andMe Price Performance
23andMe (NASDAQ:ME – Get Rating) last released its earnings results on Wednesday, February 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). 23andMe had a negative net margin of 103.07% and a negative return on equity of 36.26%. The business had revenue of $67.00 million during the quarter, compared to analyst estimates of $65.90 million. During the same period last year, the business posted ($0.21) EPS. 23andMe’s revenue was up 17.8% compared to the same quarter last year.
23andMe Profile
23andMe Holding Co operates as a consumer genetics testing company. It operates through 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 based on genetic testing of a saliva sample through its spit kit.
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