#3 - 23andMe (NASDAQ:ME)
23andMe Holding Co. (NASDAQ: ME) is a consumer genetic testing company perhaps best known for tracing one's ancestry. However, the saliva test that consumers take also helps them understand if they are genetically predisposed to certain diseases.
The company leans into a few significant trends. First, as we understand more about the human genome, gene editing is becoming a reality. Second, many pharmaceutical companies are investing in genetic research as doctors realize the link between genetic testing and personalized medicine.
As the company's partnership with GSK PLC (NYSE: GSK) showed, the data 23andMe can also provide value to drug companies. That partnership ended in July 2023, but the stage is set for future partnerships.
That represents the risk and potential reward for investors in ME stock. The company is already feeling the effects of the end of its partnership with GSK. If another partner steps in, the downward trend should end. And for a company with a $280 million market cap, it does have a respectable 36% institutional ownership with buyers slightly outpacing sellers over the last 12 months.
About 23andMe
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.
Read More - Current Price
- $3.11
- Consensus Rating
- Reduce
- Ratings Breakdown
- 0 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $9.40 (202.3% Upside)
