23andMe (NASDAQ:ME) Given New $0.47 Price Target at Citigroup

23andMe (NASDAQ:ME) had its price objective reduced by stock analysts at Citigroup from $0.85 to $0.47 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 17.47% from the stock’s previous close.

23andMe Stock Down 0.4 %

ME stock traded down $0.00 during trading hours on Tuesday, hitting $0.40. The company’s stock had a trading volume of 717,122 shares, compared to its average volume of 6,506,439. 23andMe has a 12 month low of $0.39 and a 12 month high of $2.26. The stock has a 50 day moving average price of $0.56 and a two-hundred day moving average price of $0.74. The company has a market capitalization of $193.22 million, a PE ratio of -0.36 and a beta of 1.27.

23andMe (NASDAQ:ME) last posted its earnings results on Wednesday, February 7th. The company reported ($0.17) earnings per share for the quarter. 23andMe had a negative return on equity of 52.99% and a negative net margin of 210.48%. The company had revenue of $44.75 million during the quarter, compared to analyst estimates of $56.30 million.

Insider Buying and Selling

In related news, insider Kathy L. Hibbs sold 38,548 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $0.73, for a total transaction of $28,140.04. Following the completion of the transaction, the insider now owns 1,280,349 shares of the company’s stock, valued at approximately $934,654.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 154,192 shares of company stock worth $88,660 in the last quarter. 27.55% of the stock is currently owned by company insiders.

Institutional Trading of 23andMe

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of 23andMe by 259.1% in the first quarter. Vanguard Group Inc. now owns 17,551,125 shares of the company’s stock valued at $67,221,000 after buying an additional 12,663,268 shares during the period. BlackRock Inc. lifted its position in shares of 23andMe by 41.0% in the 3rd quarter. BlackRock Inc. now owns 16,102,036 shares of the company’s stock worth $46,053,000 after acquiring an additional 4,683,691 shares during the period. Voya Investment Management LLC grew its holdings in shares of 23andMe by 127.0% during the 4th 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. State Street Corp increased its position in shares of 23andMe by 201.0% during the second quarter. State Street Corp now owns 3,567,075 shares of the company’s stock valued at $8,846,000 after purchasing an additional 2,382,040 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of 23andMe in the first quarter valued at $7,692,000. 36.10% of the stock is owned by institutional investors.

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.