Monashee Investment Management LLC Invests $1.75 Million in 23andMe Holding Co. (NASDAQ:ME)

Monashee Investment Management LLC bought a new position in 23andMe Holding Co. (NASDAQ:ME) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 150,000 shares of the company’s stock, valued at approximately $1,754,000. Monashee Investment Management LLC owned about 0.24% of 23andMe as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ME. IFP Advisors Inc bought a new stake in 23andMe during the 2nd quarter worth about $41,000. Edmond DE Rothschild Holding S.A. bought a new stake in 23andMe during the 2nd quarter worth about $41,000. Citigroup Inc. acquired a new position in 23andMe during the 2nd quarter valued at about $50,000. Lakeview Capital Partners LLC acquired a new position in 23andMe during the 2nd quarter valued at about $125,000. Finally, Commonwealth Equity Services LLC acquired a new position in 23andMe during the 2nd quarter valued at about $135,000. 14.24% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on ME shares. Credit Suisse Group started coverage on shares of 23andMe in a research report on Monday, August 16th. They set an “outperform” rating and a $13.00 target price on the stock. Citigroup cut their price target on shares of 23andMe from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, August 16th. Finally, began coverage on shares of 23andMe in a research report on Monday, July 12th. They issued a “buy” rating and a $14.00 price target on the stock.

Shares of ME opened at 9.28 on Friday. 23andMe Holding Co. has a twelve month low of 7.01 and a twelve month high of 18.16. The business’s 50 day simple moving average is 8.55.

23andMe (NASDAQ:ME) last issued its quarterly earnings results on Friday, August 13th. The company reported -0.25 earnings per share for the quarter, topping the consensus estimate of -0.57 by 0.32. The business had revenue of 59.24 million for the quarter.

23andMe Company Profile

23andMe Holding Co operates as a consumer genetics and research company. The company provides a crowdsourced platform for genetic research. Its platform has generated various publications on the genetic underpinnings of a range of diseases, conditions, and traits, as well as enables it in pursuing drug discovery programs rooted in human genetics across various disease areas, including oncology, respiratory, and cardiovascular diseases, as well as other therapeutic areas.

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Institutional Ownership by Quarter for 23andMe (NASDAQ:ME)

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