Agronomics (LON:ANIC) Shares Up 11.5% Following Insider Buying Activity

Agronomics Limited (LON:ANIC)’s share price was up 11.5% during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as GBX 4.48 ($0.06) and last traded at GBX 4.46 ($0.06). Approximately 1,910,379 shares were traded during trading, a decline of 40% from the average daily volume of 3,194,342 shares. The stock had previously closed at GBX 4 ($0.05).

Specifically, insider James (Jim) Mellon purchased 1,300,000 shares of Agronomics stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average price of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($65,008.13).

Wall Street Analysts Forecast Growth

ANIC has been the topic of several research reports. Canaccord Genuity Group restated a “buy” rating and issued a GBX 17.50 ($0.22) target price on shares of Agronomics in a research report on Friday, November 29th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 16.50 ($0.21) price objective (down previously from GBX 17 ($0.21)) on shares of Agronomics in a report on Thursday, January 30th.

Agronomics Stock Performance

The business has a 50 day simple moving average of GBX 3.95 and a 200-day simple moving average of GBX 4.72. The firm has a market capitalization of £45.05 million, a price-to-earnings ratio of 470.00 and a beta of 1.47.

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.