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

Shares of Agronomics Limited (LON:ANIC) were up 15.9% during 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).

Wall Street Analysts Forecast Growth

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

Agronomics Stock Performance

The stock’s fifty day moving average price is GBX 4.47 and its 200-day moving average price is GBX 4.69. The firm has a market cap of £75.46 million, a PE ratio of -169.91 and a beta of 1.47.

Insider Buying and Selling at Agronomics

In other Agronomics news, insider James (Jim) Mellon bought 1,300,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost 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 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.