Agronomics (LON:ANIC) Trading Up 15.9% – Should You Buy?

Agronomics Limited (LON:ANIC) shares rose 15.9% during mid-day trading on Thursday . The stock traded as high as GBX 7.70 ($0.10) and last traded at GBX 7.67 ($0.10). Approximately 17,420,238 shares were traded during mid-day trading, an increase of 241% from the average daily volume of 5,109,465 shares. The stock had previously closed at GBX 6.62 ($0.08).

Analyst Ratings Changes

ANIC has been the topic of several research analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 16.50 ($0.21) target price (down from GBX 17 ($0.21)) on shares of Agronomics in a research report on Thursday, January 30th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 17.50 ($0.22) target price on shares of Agronomics in a research report on Friday, November 29th.

Agronomics Price Performance

The stock has a market capitalization of £75.46 million, a price-to-earnings ratio of -169.91 and a beta of 1.47. The business’s 50-day simple moving average is GBX 4.47 and its two-hundred day simple moving average is GBX 4.69.

Insider Buying and Selling at Agronomics

In other news, insider James (Jim) Mellon acquired 1,300,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average price of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($65,400.58). 16.63% of the stock is currently owned by corporate insiders.

Agronomics Company Profile

Agronomics is an AIM-listed investment company centered on the nascent fields of cellular agriculture, precision fermentation and synthetic biology. The Company invests in technologies that offer new ways of producing food and materials with a focus on products historically derived from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage.