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

Shares of Agronomics Limited (LON:ANIC) traded down 9% during 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 were traded during 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 Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price objective on shares of 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 Stock Performance

The stock has a market capitalization of £60.57 million, a price-to-earnings ratio of -136.37 and a beta of 1.47. The business has a fifty day simple moving average of GBX 5.90 and a 200 day simple moving average of GBX 4.89.

Insider Buying and Selling at Agronomics

In other news, insider James (Jim) Mellon acquired 1,300,000 shares of Agronomics stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($67,523.70). 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.