Agronomics (LON:ANIC) Trading 11.5% Higher on Insider Buying Activity

Shares of Agronomics Limited (LON:ANIC) traded up 11.5% during trading on Thursday after an insider bought additional shares in the company. The company traded as high as GBX 4.48 ($0.06) and last traded at GBX 4.46 ($0.06). 1,910,379 shares changed hands during trading, a decline of 40% from the average session volume of 3,194,342 shares. The stock had previously closed at GBX 4 ($0.05).

Specifically, 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 ($64,668.57).

Wall Street Analyst Weigh In

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

Agronomics Stock Performance

The firm has a market capitalization of £44.44 million, a price-to-earnings ratio of 470.00 and a beta of 1.47. The company has a 50 day moving average price of GBX 3.95 and a two-hundred day moving average price of GBX 4.72.

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.