23andMe Holding Co. (NASDAQ:ME) Short Interest Down 95.2% in October

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

23andMe Price Performance

23andMe stock traded down $0.18 during trading hours on Friday, reaching $4.67. The company had a trading volume of 349,563 shares, compared to its average volume of 263,521. The company has a 50-day moving average price of $6.19 and a 200 day moving average price of $8.06. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -3.34 and a beta of 1.20. 23andMe has a 12-month low of $4.60 and a 12-month high of $20.40.

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

Wall Street Analysts Forecast Growth

Separately, TD Cowen cut 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 made changes to their positions in the business. Vanguard Personalized Indexing Management LLC boosted its holdings in 23andMe by 410.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 88,555 shares of the company’s stock worth $35,000 after acquiring an additional 71,204 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in 23andMe during the second quarter valued at $43,000. Levin Capital Strategies L.P. purchased a new stake in 23andMe in the second quarter worth about $61,000. AQR Capital Management LLC increased its position in 23andMe by 145.8% in the second quarter. AQR Capital Management LLC now owns 444,222 shares of the company’s stock worth $174,000 after buying an additional 263,468 shares in the last quarter. Finally, Mirador Capital Partners LP increased its position in 23andMe by 11.2% in the first quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock worth $181,000 after buying an additional 34,321 shares in the last quarter. 36.10% of the stock is owned by hedge funds and other institutional investors.

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.