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

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

23andMe Stock Performance

Shares of 23andMe stock traded down $0.18 on Friday, hitting $4.67. The company’s stock had a trading volume of 349,563 shares, compared to its average volume of 263,521. 23andMe has a 1 year low of $4.60 and a 1 year high of $20.40. The firm has a fifty day moving average price of $6.19 and a 200-day moving average price of $8.06. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -3.34 and a beta of 1.20.

23andMe (NASDAQ:ME) last issued its earnings results on Thursday, August 8th. The company reported ($2.80) earnings per share 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 for the quarter, compared to analyst estimates of $50.30 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ME. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of 23andMe during the second quarter worth about $203,000. Mirador Capital Partners LP boosted its stake 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 acquiring an additional 34,321 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of 23andMe during the 2nd quarter worth approximately $43,000. Vanguard Personalized Indexing Management LLC raised its position 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 during the last quarter. Finally, Levin Capital Strategies L.P. acquired a new position in 23andMe in the 2nd quarter valued at $61,000. 36.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, TD Cowen cut 23andMe from a “strong-buy” rating to a “strong sell” rating in a research report 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.