Agronomics (LON:ANIC) Shares Up 15.9% – What’s Next?

Agronomics Limited (LON:ANIC)’s share price was up 15.9% during mid-day trading on Thursday . The company traded as high as GBX 7.70 ($0.10) and last traded at GBX 7.67 ($0.10). Approximately 17,420,238 shares traded hands 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).

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ANIC shares. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 17.50 ($0.22) price objective on shares of Agronomics in a report on Friday, November 29th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 16.50 ($0.21) target price (down from GBX 17 ($0.22)) on shares of Agronomics in a report on Thursday, January 30th.

Agronomics Stock Up 15.7 %

The stock’s 50 day moving average price is GBX 4.33 and its 200-day moving average price is GBX 4.66. The stock has a market capitalization of £76.06 million, a P/E ratio of -171.25 and a beta of 1.47.

Insider Buying and Selling at Agronomics

In related news, insider James (Jim) Mellon acquired 1,300,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were acquired at an average price of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($65,948.00). 16.63% of the stock is owned by 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.