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

Agronomics Limited (LON:ANIC) shares traded up 11.5% 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 were traded during mid-day 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 bought 1,300,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average cost of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($64,668.57).

Analyst Ratings Changes

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

Agronomics Price Performance

The stock has a market cap of £44.44 million, a price-to-earnings ratio of 470.00 and a beta of 1.47. The stock has a fifty day moving average of GBX 3.95 and a 200 day moving average 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.