Oversea Chinese Banking CORP Ltd bought a new stake in 23andMe Holding Co. (NASDAQ:ME – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 24,141 shares of the company’s stock, valued at approximately $52,000.
Several other institutional investors and hedge funds have also made changes to their positions in ME. Clear Harbor Asset Management LLC acquired a new position in 23andMe in the 4th quarter valued at about $26,000. Walleye Capital LLC acquired a new position in 23andMe in the 2nd quarter valued at about $28,000. Geneos Wealth Management Inc. acquired a new position in 23andMe in the 1st quarter valued at about $34,000. Advisory Research Inc. acquired a new position in 23andMe in the 3rd quarter valued at about $36,000. Finally, Salem Investment Counselors Inc. acquired a new position in 23andMe during the 1st quarter worth approximately $38,000. 29.49% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Citigroup dropped their target price on 23andMe from $3.75 to $2.50 in a research report on Friday, May 26th.
23andMe Stock Down 4.0 %
23andMe (NASDAQ:ME – Get Rating) last posted its earnings results on Thursday, May 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. 23andMe had a negative return on equity of 39.72% and a negative net margin of 104.06%. The firm had revenue of $92.38 million for the quarter, compared to analyst estimates of $88.40 million. During the same quarter in the prior year, the company earned ($0.16) EPS. 23andMe’s revenue was down 8.1% on a year-over-year basis.
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; and Lemonaid telehealth platform, patients can access affiliated licensed healthcare professionals for medical consultation and treatment for several common conditions, as well as research services.
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