Levin Capital Strategies L.P. Invests $61,000 in 23andMe Holding Co. (NASDAQ:ME)

Levin Capital Strategies L.P. purchased a new stake in shares of 23andMe Holding Co. (NASDAQ:ME) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 155,000 shares of the company’s stock, valued at approximately $61,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wittenberg Investment Management Inc. grew its position in 23andMe by 63.9% in the 1st quarter. Wittenberg Investment Management Inc. now owns 2,290,945 shares of the company’s stock valued at $1,219,000 after acquiring an additional 893,552 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of 23andMe by 68.3% in the first 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 last quarter. Finally, Mirador Capital Partners LP increased 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 worth $181,000 after buying an additional 34,321 shares during the period. 36.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

23andMe Price Performance

ME opened at $0.30 on Wednesday. The stock’s fifty day moving average is $0.38 and its two-hundred day moving average is $0.45. The company has a market capitalization of $146.98 million, a P/E ratio of -0.21 and a beta of 1.19. 23andMe Holding Co. has a 52 week low of $0.29 and a 52 week high of $1.16.

23andMe (NASDAQ:ME) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter. 23andMe had a negative return on equity of 83.22% and a negative net margin of 317.03%. The firm had revenue of $40.41 million for the quarter, compared to the consensus estimate of $50.30 million.

23andMe 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.