23andMe Stock Scheduled to Reverse Split on Wednesday, October 16th (NASDAQ:ME)

23andMe Holding Co. (NASDAQ:ME)’s stock is going to reverse split on the morning of Wednesday, October 16th. The 1-20 reverse split was announced on Friday, October 11th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, October 15th.

23andMe Price Performance

Shares of NASDAQ ME opened at $0.29 on Monday. The stock has a market capitalization of $143.06 million, a price-to-earnings ratio of -0.22 and a beta of 1.20. The business has a 50-day moving average of $0.33 and a 200-day moving average of $0.42. 23andMe has a fifty-two week low of $0.27 and a fifty-two week high of $1.02.

23andMe (NASDAQ:ME) last issued its earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share (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.

Analyst Ratings Changes

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

Hedge Funds Weigh In On 23andMe

Several hedge funds have recently modified their holdings of ME. China Universal Asset Management Co. Ltd. raised its holdings in shares of 23andMe by 68.3% in 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. Vanguard Personalized Indexing Management LLC grew its stake in 23andMe by 410.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock valued at $35,000 after buying an additional 71,204 shares in the last quarter. Point72 DIFC Ltd purchased a new position in 23andMe in the 2nd quarter valued at approximately $43,000. Levin Capital Strategies L.P. purchased a new position in 23andMe in the 2nd quarter valued at approximately $61,000. Finally, Mirador Capital Partners LP grew its stake in 23andMe by 11.2% in the 1st quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock valued at $181,000 after buying an additional 34,321 shares in the last quarter. Institutional investors own 36.10% of the company’s stock.

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.