Is 23andMe stock worth buying?
23andMe is definitely a stock that will be worth adding to your watchlist. While I can't get behind buying it until it reports a few quarters of favorable earnings, its data is both invaluable and unique in the healthcare sector.
When is 23andMe’s IPO date?
Earmarked on the IPO calendar with a date of June 17, 2021, 23andMe sits near the tail end of what has been a flurry of activity regarding new public offerings this week. All told, 15 companies will look to raise up to $2.5 billion.
What is 23andMe and how does it work?
Lastly, 23andMe is combining its genetic research and testing to curate a subscription service for its consumers. Each subscription offers insight into an individual's pharmacogenetics, heart health, DNA relatives, and polygenic risk scores (i.e., risk of developing cancer by a certain age).
Is 23andMe making a comeback?
Overall, 23andMe is making a sharp comeback with its new business model. Currently, the stock looks like it already has that priced in, trading at a very expensive 14.6 times EV-to-sales. It's still nonetheless a good healthcare stock to buy -- albeit as a small stake in case its growth disappoints.
Can I buy 23andMe stock?
Fund your account. Research the stock. Find the stock by name or ticker symbol – ME – and research it before deciding if it's a good investment for you. Purchase now or later.
Should I buy stock in 23andMe?
23andMe has received a consensus rating of Buy. The company's average rating score is 2.50, and is based on 1 buy rating, 1 hold rating, and no sell ratings.
Will 23andMe go public?
Via the use of a special purpose acquisition company (SPAC) that's owned and operated by Richard Branson, the billionaire founder of Virgin Group, 23andMe will become a publicly traded company in 2021.
Why is 23&ME stock falling?
23andMe stock falls on widening loss Shares of 23andMe Holding Co. fell almost 7% in after-hours trading after the genetic-testing company saw its loss widen for the fiscal fourth quarter, and issued guidance that assumes the loss will widen further.
Will me stock go up?
On average, Wall Street analysts predict that 23ANDME HOLDING's share price could reach $5.00 by May 27, 2023. The average 23ANDME HOLDING stock price prediction forecasts a potential upside of 99.2% from the current ME share price of $2.51.
Is me stock a good buy?
According to the issued ratings of 2 analysts in the last year, the consensus rating for 23andMe stock is Buy based on the current 1 hold rating and 1 buy rating for MEthe . Learn more on ME's analyst rating history.
What day did 23andMe go public?
June 17Try refreshing the page. On June 17, 23andMe, which pioneered personalized medicine and at-home genetic testing kits 15 years ago, went public through a merger with a Richard Branson SPAC under the ME ticker and saw its share price rise by 21%, reflecting the market's interest in the potential of genetic analysis.
Is 23andMe a SPAC?
Genetic testing company 23andMe rises in first trade after Richard Branson SPAC merger. 23andMe, the genetic testing company that pioneered the business of personalized gene testing kits, traded higher in its public market debut under the ticker symbol “ME” on Thursday after a merger with a Richard Branson SPAC.
What is a SPAC stock?
Special Purpose Acquisition Companies or SPACs are non-operating publicly-listed companies whose purpose is to identify and purchase a private company, allowing the acquisition target to have publicly listed stock. SPACs are also known as blank check companies.
Does BlackRock own 23andMe?
Shareholders - CNNMoney.com....Top 10 Owners of 23andMe Holding Co.StockholderBlackRock Fund AdvisorsStake1.38%Shares owned2,915,398Total value ($)8,717,040Shares bought / sold+1,619,5019 more columns
What company owns 23andMe?
In 2018, pharma giant GlaxoSmithKline took a $300 million ownership stake in 23andMe. This garnered major publicity. There was considerable media focus on privacy issues, arising from access for GSK to 23andMe's database of their customers' genetic data.
Is 23andMe profitable?
In 2021, management predicts a total of around $247 million in revenue compared to 2020's sum of $305 million. And even in 2019's bumper crop year of sales, it wasn't anywhere near being profitable. Then there's 23andMe's drug-development pipeline.
Should I buy or sell 23andMe stock right now?
2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for 23andMe in the last twelve months. There are currently 1 hold rat...
What is 23andMe's stock price forecast for 2022?
2 Wall Street analysts have issued 12-month target prices for 23andMe's stock. Their forecasts range from 3.00 to 7.00. On average, they predict 23...
How has 23andMe's stock performed in 2022?
23andMe's stock was trading at 6.66 at the beginning of the year. Since then, ME shares have decreased by 66.8% and is now trading at 2.21. View t...
When is 23andMe's next earnings date?
23andMe is scheduled to release its next quarterly earnings announcement on Friday, August 12th 2022. View our earnings forecast for 23andMe .
How were 23andMe's earnings last quarter?
23andMe Holding Co. (NASDAQ:ME) announced its earnings results on Thursday, May, 26th. The company reported ($0.16) earnings per share (EPS) for th...
What guidance has 23andMe issued on next quarter's earnings?
23andMe updated its FY 2023 earnings guidance on Thursday, June, 9th. The company provided EPS guidance of for the period. The company issued reven...
Who are 23andMe's key executives?
23andMe's management team includes the following people: Ms. Anne Wojcicki , Co-Founder, CEO, Pres & Director Mr. Steven J. Schoch , Chief Finan...
Who are some of 23andMe's key competitors?
Some companies that are related to 23andMe include Cerevel Therapeutics (CERE) , Turning Point Therapeutics (TPTX) , Galapagos (GLPG) , Ultrage...
What is 23andMe's stock symbol?
23andMe trades on the NASDAQ under the ticker symbol "ME."
How much money did 23andme make in 2020?
In fiscal year 2020 (ending March 31, 2020), 23andMe posted top-line sales of $305.5 million, which were down nearly 31% from fiscal 2019 sales of $440.9 million. Even more problematic, in the 9 months ending on Dec. 31, 2020, the company generated only $155.3 million.
Why is 23andme important?
Indeed, health and wellness experts state that understanding your family history provides you with a sense of identity. Thanks to genetic testing technology , 23andMe allows its clients to dig further than ever into their origin.
How much did Anne Wojcicki contribute to 23andme?
He and Anne Wojcicki, 23andMe’s co-founder and CEO, each contributed $25 million investments into the deal. Over the trailing year, SPACs generated both intrigue and controversy. For the market debutant, SPACs represent an easier path to accessing public capital.
How to execute a market order?
To execute a market order, follow these steps: Select action type (buy or sell). Enter the shares you want to acquire (or sell). Hit the buy (or sell) button. Use the same steps above for a limit order, with the difference being that you must enter your desired execution price.
What is share count?
Your share count determines your risk-reward profile, with a higher count leading to greater profitability potential but conversely exposing you to greater risk. Therefore, give some thought to your share count before executing your trade.
Can I buy pre IPO shares?
For traditional IPOs, underwriters almost always exclude retail buyers from buying pre-IPO shares. However, companies like ClickIPO democratize this process by purchasing blocks of select pre-IPO shares and distributing them to the public.
Is genetic testing important for 23andme?
Second, genetic testing doesn’t just revolve around connecting people to their lineage, as important and affirming as that is.
23andMe Business Model: A Moving Target
23andMe first gained buzz among consumers for its at-home saliva tests. The Sunnyvale, California-based biotechnology company was founded in 2006 by Linda Avey, Paul Cusenza, and CEO Anne Wojcicki with a direct-to-consumer model.
Accuracy of DNA Tests
The U.S. genetic testing market is estimated to reach $10.29 billion by 2027 with a CAGR of 13 percent. These tests can potentially match you with family, find ancestors, determine ethnicity, and predict genetic traits, like eye color. It can also identify potential health concerns based on genetics.
23AndMe CEO, Anne Wojcicki Is Silicon Valley Elite
The SPAC merger with billionaire Richard Branson’s Virgin Group brought 23andMe public in 2021 and made Wojcicki a billionaire in the process. She owned 99.4 million shares when the company went public, although she was already intimately familiar with wealth.
23andMe Financial Summary
By the middle of its 2022 fiscal year, 23andMe reported 11.9 million genotyped customers. This company generated $114 million in total revenue for the first half of the fiscal year. However, it also had $147 million in operating expenses, driven primarily by research and development and marketing costs.
23andMe Profitability Challenges Persis
Expanding in healthcare is neither easy nor cheap, and 23andMe is now a telemedicine and pharmaceutical company. This means the company faces strict regulations and a lot of expensive operational hurdles.
Is 23andMe Stock a Buy: The Bottom Line
23andMe is a high-profile Silicon Valley healthtech company with a lot of growth potential. Its drug development partnerships indicate where its next growth vector can come from, but that growth isn’t likely to appear until later in the decade. Developments are still early in the pipeline, with no late-stage clinical trials to speak of yet.
Headlines
Could The 23andMe Holding Co. (NASDAQ:ME) Ownership Structure Tell Us Something Useful?
23andMe (NASDAQ:ME) Frequently Asked Questions
2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for 23andMe in the last twelve months. There are currently 1 hold rating and 1 buy rating for the stock.
How to buy shares in 23andMe Holding CoClass A Common Stock
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Is it a good time to buy 23andMe Holding CoClass A Common Stock stock?
The technical analysis gauge below displays real-time ratings for the timeframes you select. This is not a recommendation, however. It represents a technical analysis based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
23andMe Holding CoClass A Common Stock share dividends
We're not expecting 23andMe Holding CoClass A Common Stock to pay a dividend over the next 12 months.
23andMe Holding CoClass A Common Stock overview
23andMe Holding Co. operates as a consumer genetics and research company. It operates through two segments, Consumer & Research Services and Therapeutics.
Frequently asked questions
What percentage of 23andMe Holding CoClass A Common Stock is owned by insiders or institutions?
How much revenue did 23andme make in 2019?
In 2019, the company brought in $441 million in revenue, with consumer services accounting for 96% of sales. However, its forecast for this year amounts to just $243.5 million in sales. 23andMe is, fortunately, improving its operating income less noncash items from a loss of $85 million in 2019 to a positive $7.5 million this year.
What is 23andme test?
23andMe is known for its namesake health and ancestry testing services. After purchasing and receiving its test kit, consumers ship a saliva sample to a laboratory for analysis. The results include a complete breakdown of the user's genetic background. Customers can also use the data to locate close relatives on the 23andMe platform.
Does 23andme have genetic testing?
Lastly, 23andMe is combining its genetic research and testing to curate a subscription service for its consumers. Each subscription offers insight into an individual's pharmacogenetics, heart health, DNA relatives, and polygenic risk scores (i.e., risk of developing cancer by a certain age).
Why 23andMe stock has fallen
23andMe stock has pulled back about 30 percent since its public debut. The stock rose rapidly in the lead up to the closing of the VGAC merger and after the public debut. There might be some investors taking profits, which puts pressure on the stock price.
Is a Reddit short squeeze possible in 23andMe stock?
Currently, 23andMe isn't ranked among the most popular stocks on Reddit’s WallStreetBets—the community of short squeeze-loving retail investors. However, there's a chance that ME stock could become a Reddit short squeeze target with its fairly high short interest of 17 percent.
