Agronomics (LON:ANIC) Trading Down 9% – Should You Sell?

Agronomics Limited (LON:ANIC) shares traded down 9% during mid-day trading on Wednesday . The company traded as low as GBX 6.10 ($0.08) and last traded at GBX 6.10 ($0.08). 3,873,813 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 4,509,231 shares. The stock had previously closed at GBX 6.70 ($0.09).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their price objective on Agronomics from GBX 16 ($0.21) to GBX 15.90 ($0.21) and set a “buy” rating on the stock in a research report on Monday, March 17th.

Agronomics Trading Up 0.8 %

The stock has a market capitalization of £59.58 million, a P/E ratio of -134.14 and a beta of 1.47. The stock’s fifty day moving average price is GBX 5.99 and its two-hundred day moving average price is GBX 4.90.

Insider Buying and Selling

In related news, insider James (Jim) Mellon bought 1,300,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($67,079.46). 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.