Agronomics (LON:ANIC) Stock Price Down 9% – Here’s Why

Agronomics Limited (LON:ANIC)’s share price fell 9% during mid-day trading on Wednesday . The company traded as low as GBX 6.10 ($0.08) and last traded at GBX 6.10 ($0.08). 3,873,813 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 4,509,231 shares. The stock had previously closed at GBX 6.70 ($0.09).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped their price objective on shares of Agronomics from GBX 16 ($0.21) to GBX 15.90 ($0.21) and set a “buy” rating on the stock in a report on Monday, March 17th.

Agronomics Trading Up 0.8 %

The firm has a market cap of £59.58 million, a P/E ratio of -134.14 and a beta of 1.47. The business’s fifty day simple moving average is GBX 5.99 and its 200-day simple moving average is GBX 4.90.

Insider Activity at Agronomics

In other news, insider James (Jim) Mellon bought 1,300,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were acquired at an average cost of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($67,079.46). 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.