Insider Selling: 23andMe Holding Co. (NASDAQ:ME) Insider Sells 38,551 Shares of Stock

23andMe Holding Co. (NASDAQ:ME) insider Kathy L. Hibbs sold 38,551 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $0.49, for a total value of $18,889.99. Following the completion of the sale, the insider now directly owns 1,252,315 shares in the company, valued at approximately $613,634.35. The transaction was disclosed in a document filed with the SEC, which is available through this link.

23andMe Price Performance

Shares of 23andMe stock traded down $0.02 during trading on Monday, hitting $0.49. 4,795,432 shares of the stock were exchanged, compared to its average volume of 6,909,976. 23andMe Holding Co. has a 12-month low of $0.35 and a 12-month high of $2.21. The stock has a market cap of $234.99 million, a price-to-earnings ratio of -0.44 and a beta of 1.24. The firm’s 50-day moving average price is $0.49 and its 200 day moving average price is $0.70.

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

Hedge Funds Weigh In On 23andMe

Several hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its stake in 23andMe by 68.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 60,653 shares of the company’s stock worth $32,000 after purchasing an additional 24,604 shares during the period. Raymond James & Associates increased its position in 23andMe by 113.5% in the 3rd quarter. Raymond James & Associates now owns 36,173 shares of the company’s stock valued at $35,000 after acquiring an additional 19,233 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in 23andMe during the 3rd quarter worth approximately $37,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 23andMe by 58.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,167 shares of the company’s stock valued at $56,000 after buying an additional 22,460 shares during the last quarter. Finally, BKA Wealth Consulting Inc. purchased a new position in 23andMe in the fourth quarter worth $126,000. Hedge funds and other institutional investors own 36.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup cut their target price on shares of 23andMe from $0.85 to $0.47 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th.

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.