Credit Suisse reiterated coverage of 23andMe Holding Co. (NASDAQ:ME) with an Outperform rating on May 26, 2023. As of May 11, 2023, the average one-year price target for ME is $5.80, with a range from $3.79 to $7.35. The average price target suggests a potential increase of 178.91% from its latest reported closing price of $2.08. This indicates a bullish outlook.
There are currently 303 funds or institutions reporting positions in 23andMe Holding Co. The average portfolio weight of all funds dedicated to ME is 0.28%, with an increase of 18.84%. Total shares owned by institutions increased in the last three months by 0.51% to 139,558K shares.
NewView Capital Partners I holds 19,456K shares representing 4.25% ownership of the company, while Euclidean Capital holds 10,243K shares (2.24%). Meanwhile, VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 8,502K shares (1.86% ownership of the company), and NAESX – Vanguard Small-Cap Index Fund Investor Shares has 7,159K shares (1.57% ownership of the company). Alphabet holds 6,737K shares representing 1.47% ownership of the company.
23andMe, Inc., headquartered in Sunnyvale, CA, is the leading consumer genetics and research company with a mission to help people access, understand, and benefit from the human genome. 23andMe has pioneered direct access to genetic information with multiple FDA approvals for genetic health reports and created the world’s largest crowdsourced platform for genetic research. Their research platform has generated more than 180 publications on the genetic underpinnings of various diseases, and they have a Therapeutics group pursuing drug discovery programs rooted in human genetics.
This story originally appeared on Fintel.
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