Short Interest in 23andMe Holding Co. (NASDAQ:ME) Decreases By 95.2%

23andMe Holding Co. (NASDAQ:ME) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 1,030,000 shares, a decrease of 95.2% from the September 30th total of 21,650,000 shares. Currently, 6.7% of the shares of the company are short sold. Based on an average trading volume of 185,800 shares, the short-interest ratio is currently 5.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ME. Mirador Capital Partners LP grew its holdings in shares of 23andMe by 11.2% during the 1st quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock worth $181,000 after purchasing an additional 34,321 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of 23andMe by 410.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock worth $35,000 after purchasing an additional 71,204 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of 23andMe during the 2nd quarter worth $43,000. Levin Capital Strategies L.P. acquired a new stake in shares of 23andMe during the 2nd quarter worth $61,000. Finally, AQR Capital Management LLC boosted its stake in 23andMe by 145.8% in the second quarter. AQR Capital Management LLC now owns 444,222 shares of the company’s stock valued at $174,000 after buying an additional 263,468 shares in the last quarter. 36.10% of the stock is owned by institutional investors and hedge funds.

23andMe Stock Performance

ME traded down $0.18 during trading hours on Friday, reaching $4.67. The company’s stock had a trading volume of 349,563 shares, compared to its average volume of 263,521. The company’s 50-day moving average is $6.19 and its 200-day moving average is $8.06. 23andMe has a 52 week low of $4.60 and a 52 week high of $20.40. The firm has a market cap of $2.29 billion, a PE ratio of -3.34 and a beta of 1.20.

23andMe (NASDAQ:ME) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($2.80) EPS for the quarter. 23andMe had a negative net margin of 317.03% and a negative return on equity of 83.22%. The firm had revenue of $40.41 million during the quarter, compared to analyst estimates of $50.30 million.

Wall Street Analyst Weigh In

Separately, TD Cowen cut 23andMe from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, August 7th.

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.