Agronomics (LON:ANIC) Shares Up 9.6% – Should You Buy?

Agronomics Limited (LON:ANIC)’s share price shot up 9.6% during mid-day trading on Friday . The company traded as high as GBX 4.90 ($0.06) and last traded at GBX 4.70 ($0.06). 16,094,752 shares traded hands during mid-day trading, an increase of 336% from the average session volume of 3,693,934 shares. The stock had previously closed at GBX 4.29 ($0.05).

Analysts Set New Price Targets

A number of research firms recently weighed in on ANIC. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 17.50 ($0.22) price objective on shares of Agronomics in a report on Friday, November 29th. Canaccord Genuity Group reissued a “buy” rating and set a GBX 16.50 ($0.21) target price (down previously from GBX 17 ($0.21)) on shares of Agronomics in a research note on Thursday, January 30th.

Agronomics Trading Up 9.6 %

The company’s 50-day moving average price is GBX 3.99 and its two-hundred day moving average price is GBX 4.65. The company has a market cap of £46.67 million, a P/E ratio of -105.08 and a beta of 1.47.

Insider Activity

In other news, insider James (Jim) Mellon bought 1,300,000 shares of the firm’s stock in a transaction 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 ($65,351.26). Insiders own 16.63% of the company’s stock.

About Agronomics

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.