Agronomics (LON:ANIC) Stock Price Up 10.6% – Here’s What Happened

Shares of Agronomics Limited (LON:ANIC) traded 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 changed hands 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).

Analysts Set New Price Targets

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

Agronomics Stock Performance

The firm’s 50-day moving average is GBX 4.59 and its two-hundred day moving average is GBX 4.70. The stock has a market cap of £66.53 million, a P/E ratio of -149.79 and a beta of 1.47.

Insider Transactions at Agronomics

In other Agronomics news, insider James (Jim) Mellon purchased 1,300,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($66,521.68). 16.63% of the stock is currently owned by corporate 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.