Citi Reiterates Neutral Rating on 23andMe Holding (ME)

Citi analyst Daniel Grosslight reiterated a Neutral rating and $0.63 price target on 23andMe Holding (NASDAQ: ME).

The analyst comments "At the 2024 American Society of Clinical Oncology (ASCO) meeting, 23andMe presented early Ph2 data (as part of its ongoing Ph1/2a trial) for 23ME-00610, the company’s CD200R1 inhibitor, in patients with advanced neuroendocrine tumors (NETs) and ovarian cancer. While preliminary and in small sample (n=16 for NET; n=16 for ovarian cancer), these data are encouraging and demonstrate early signs of clinical activity in late-line patients across multiple tumor types, including one confirmed partial response (PR) in the neuroendocrine cohort. Posters can be found of 23andMe’s website HERE. Notably, we also anticipate additional data from longer follow-up at the European Society for Medical Oncology (ESMO) in September."

For an analyst ratings summary and ratings history on 23andMe Holding click here. For more ratings news on 23andMe Holding click here.

Shares of 23andMe Holding closed at $0.55 yesterday.

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