Agronomics (LON:ANIC) Trading Up 10.6% – Time to Buy?

Agronomics Limited (LON:ANIC)’s stock price shot up 10.6% on Wednesday . The company traded as high as GBX 7 ($0.09) and last traded at GBX 6.88 ($0.09). 7,326,945 shares were traded during trading, an increase of 31% from the average session volume of 5,607,856 shares. The stock had previously closed at GBX 6.22 ($0.08).

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ANIC. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 17.50 ($0.23) price target on shares of Agronomics in a research note on Friday, November 29th. Canaccord Genuity Group restated a “buy” rating and set a GBX 16.50 ($0.21) price objective (down previously from GBX 17 ($0.22)) on shares of Agronomics in a research report on Thursday, January 30th.

Agronomics Stock Performance

The company has a market cap of £69.26 million, a PE ratio of -155.94 and a beta of 1.47. The stock’s 50-day simple moving average is GBX 4.71 and its 200 day simple moving average is GBX 4.72.

Insiders Place Their Bets

In related news, insider James (Jim) Mellon purchased 1,300,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average price of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($67,010.31). 16.63% of the stock is owned by insiders.

About Agronomics

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.