Shares of 23andMe Holding (NASDAQ: ME) stock slipped in Friday morning trading after the genetic data miner announced that it will spend $400 million to acquire on-demand online medical care and pharmacy services platform Lemonaid Health (not to be confused with Lemonade (NYSE: LMND), the insurance provider).
Is 23andMe stock headed to $14?
Citi analyst Daniel Grosslight initiated coverage of 23andME stock with a buy recommendation and target price of $14, which implies a 40 percent upside to its current price. Grosslight said that 23andMe is a biotech that has the potential to become a major drug developer.
What happened to meme stock after June 17?
ME stock made its public debut on June 17, gained more than 21 percent on the first day of trading, and closed at about $13.32. Since then, the stock has fallen and lost all of its gains. We can attribute the fall to a broader market sell-off in high-growth stocks.
What does 23andMe do?
23andMe Holding Co. operates as a consumer genetics and research company. The company provides a crowdsourced platform for genetic research.
How does 23andMe's insider ownership look like?
In the past three months, 23andMe insiders have not sold or bought any company stock. 45.01% of the stock of 23andMe is held by institutions. High institutional ownership can be a signal of strong market trust in this company. 23andMe has a P/B Ratio of 21.85.
Is DNA a good stock to buy?
Out of 7 analysts, 3 (42.86%) are recommending DNA as a Strong Buy, 2 (28.57%) are recommending DNA as a Buy, 1 (14.29%) are recommending DNA as a Hold, 1 (14.29%) are recommending DNA as a Sell, and 0 (0%) are recommending DNA as a Strong Sell. What is DNA's earnings growth forecast for 2022-2024?
Is 23andMe a good company?
Is 23andMe a good company to work for? 23andMe has an overall rating of 4.1 out of 5, based on over 191 reviews left anonymously by employees. 73% of employees would recommend working at 23andMe to a friend and 69% have a positive outlook for the business.
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 on the stock market yet?
It's been far from a smooth ride since 23andMe's stock market debut. The Silicon Valley-based genetics testing firm went public in June via a merger with a special acquisition company led by U.K. billionaire Richard Branson in a deal that raised nearly $600 million and boosted 23andMe's value to $3.5 billion.
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.
Why 23andMe is not accurate?
A major shortcoming of the genetic tests offered by the Google-backed company 23andMe is not necessarily their accuracy, but rather the limited information they use to evaluate a person's lifetime risk of complex diseases, experts say.
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.
Does the Mormon church own ancestry?
Is Ancestry Owned by the Mormon Church? No, Ancestry is not owned or operated by the Church of Jesus Christ of Latter-day Saints (commonly known as the LDS or Mormon church) and never has been. But it is easy to understand why people think so.
Is 23andMe a SPAC?
A merger with a SPAC allows 23andMe to go public without the uncertainty of holding an initial public offering. Launched in 2006, 23andMe sells direct-to-consumer genetic testing kits that people can use to find out more about their own DNA and what it says about their potential health issues and ancestry.
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 23andMe pay dividends?
23andMe does not currently pay dividends.
Is Anne Wojcicki a billionaire?
Wojcicki became an on-paper billionaire earlier this year, when her genetics testing company went public in a SPAC that valued 23andMe at $3.5 billion. But for the first nine years of her company's life, Wojcicki was also married to Sergey Brin, the cofounder of Google and now the world's sixth-wealthiest man.
How much is 23andme worth?
23andMe has an enterprise value of around $4.7 billion. The company expects to report revenue of $247 million in 2021 and $400 million in 2024, which means 2021 and 2024 EV-to-sales multiples of 19x and 11.8x, respectively.
How much is the genetic testing market?
The global genetic testing market size is expected to reach $23 billion by 2027 compared to $11 billion in 2020. Increased health and wellness awareness is expected to drive up the demand for 23andMe's products.
Is 23andme a biotech?
Grosslight said that 23andMe is a biotech that has the potential to become a major drug developer. This is mainly because the company has collected a large amount of patient data through direct-to-consumer genetic testing. Article continues below advertisement. Source: 23andMe.
What happened
Shares of 23andMe Holding ( ME -2.38% ) stock slipped in Friday morning trading after the genetic data miner announced that it will spend $400 million to acquire on-demand online medical care and pharmacy services platform Lemonaid Health (not to be confused with Lemonade ( LMND -3.70% ), the insurance provider).
So what
23andMe noted that bringing Lemonaid Health's "innovative telemedicine and prescription drug delivery services" onboard could be "an important step in transforming the traditional primary care experience and making personalized healthcare a reality." Using its own treasure trove of genetic data, the company says it will be able to "give patients and healthcare providers better information about health risks and treatments, opening up the door to prevent as well as better manage disease.".
NASDAQ: ME
For its new prize 23andMe will pay 25% in cash and 75% in shares of 23andMe stock. It expects to close the acquisition before the end of this year.
Now what
Now, the synergies in this merger may not be immediately obvious. Still, if you think out a few years, the acquisition does kind of make sense.
Premium Investing Services
Invest better with the Motley Fool. Get stock recommendations, portfolio guidance, and more from the Motley Fool's premium services.
What happened
Shares of 23andMe Holding (NASDAQ: ME) stock slipped in Friday morning trading after the genetic data miner announced that it will spend $400 million to acquire on-demand online medical care and pharmacy services platform Lemonaid Health (not to be confused with Lemonade (NYSE: LMND), the insurance provider).
So what
23andMe noted that bringing Lemonaid Health's "innovative telemedicine and prescription drug delivery services" onboard could be "an important step in transforming the traditional primary care experience and making personalized healthcare a reality." Using its own treasure trove of genetic data, the company says it will be able to "give patients and healthcare providers better information about health risks and treatments, opening up the door to prevent as well as better manage disease.".
Now what
Now, the synergies in this merger may not be immediately obvious. Still, if you think out a few years, the acquisition does kind of make sense.
23andMe (ME-Q)
It's a genetic testing company with subscription services to let you know how your genes could effect your health. They went public last June, but has fallen since from $11 to $8. He doesn't understand why. Gene sequencing is the future of medicine and this company holds a treasure trove of data (kept private) that could be applied in medicine.
23andMe (ME-Q) Rating
Stockchase rating for 23andMe is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.
23andMe (ME-Q) Frequently Asked Questions
23andMe is a American stock, trading under the symbol ME-Q on the NASDAQ (ME). It is usually referred to as NASDAQ:ME or ME-Q
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.
