Agronomics (LON:ANIC) Trading Down 6.8% - Should You Sell?

Shares of Agronomics Limited (LON:ANIC - Get Free Report) fell 6.8% on Monday . The stock traded as low as GBX 7.08 ($0.09) and last traded at GBX 7.08 ($0.09). 8,752,418 shares changed hands during trading, an increase of 65% from the average session volume of 5,312,488 shares. The stock had previously closed at GBX 7.60 ($0.10).

Analysts Set New Price Targets

Several brokerages have recently weighed in on ANIC. Canaccord Genuity Group reissued a "buy" rating and set a GBX 16.50 ($0.21) price target (down previously from GBX 17 ($0.22)) on shares of Agronomics in a research report on Thursday, January 30th. Canaccord Genuity Group reissued a "buy" rating and set a GBX 17.50 ($0.23) price target on shares of Agronomics in a research report on Friday, November 29th.

Agronomics Stock Performance

The firm's 50-day moving average price is GBX 4.77 and its two-hundred day moving average price is GBX 4.72. The stock has a market cap of £69.51 million, a price-to-earnings ratio of -156.49 and a beta of 1.47.

Insider Buying and Selling at Agronomics

In related news, insider James (Jim) Mellon bought 1,300,000 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of GBX 4 ($0.05) per share, with a total value of £52,000 ($67,192.14). 16.63% of the stock is currently owned by corporate insiders.

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.