Agronomics (LON:ANIC) Shares Up 15.9% – Here’s What Happened

Agronomics Limited (LON:ANIC) was up 15.9% on Thursday . The company traded as high as GBX 7.70 ($0.10) and last traded at GBX 7.67 ($0.10). Approximately 17,420,238 shares traded hands during 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).

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 16.50 ($0.21) target price (down from GBX 17 ($0.22)) on shares of Agronomics in a research note on Thursday, January 30th. Canaccord Genuity Group reaffirmed 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.

Agronomics Stock Performance

The stock has a market capitalization of £76.06 million, a price-to-earnings ratio of -171.25 and a beta of 1.47. The company has a 50 day moving average of GBX 4.33 and a 200 day moving average of GBX 4.66.

Insider Activity at Agronomics

In related news, insider James (Jim) Mellon bought 1,300,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were bought at an average cost of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($65,948.00). 16.63% of the stock is owned by corporate 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.