Investors Buy Large Volume of 23andMe Put Options (NASDAQ:ME)

23andMe Holding Co. (NASDAQ:ME) was the recipient of some unusual options trading on Tuesday. Investors bought 2,416 put options on the company. This represents an increase of approximately 139% compared to the typical daily volume of 1,009 put options.

Hedge Funds Weigh In On 23andMe

Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in 23andMe in the 4th quarter valued at $26,000. Leavell Investment Management Inc. purchased a new stake in shares of 23andMe during the 4th quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB acquired a new position in 23andMe during the 4th quarter worth approximately $40,000. Virtu Financial LLC purchased a new position in 23andMe in the 4th quarter worth approximately $49,000. Finally, Shay Capital LLC grew its position in 23andMe by 71.7% in the fourth quarter. Shay Capital LLC now owns 702,530 shares of the company’s stock valued at $2,283,000 after acquiring an additional 293,358 shares in the last quarter. 36.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 23andMe in a research note on Saturday.

23andMe Trading Down 12.3 %

Shares of NASDAQ ME traded down $0.09 on Tuesday, reaching $0.64. 2,054,530 shares of the company traded hands, compared to its average volume of 290,828. The company has a 50 day moving average of $2.49 and a 200 day moving average of $3.89. 23andMe has a fifty-two week low of $0.73 and a fifty-two week high of $12.76. The stock has a market capitalization of $17.17 million, a PE ratio of -0.04 and a beta of 1.19.

23andMe (NASDAQ:ME) last posted its quarterly earnings results on Tuesday, January 28th. The company reported ($1.02) earnings per share for the quarter. 23andMe had a negative return on equity of 170.07% and a negative net margin of 183.39%.

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.