Agronomics (LON:ANIC) Shares Down 4.9% – Time to Sell?

Agronomics Limited (LON:ANIC) shares were down 4.9% on Wednesday . The company traded as low as GBX 5.80 ($0.08) and last traded at GBX 5.80 ($0.08). Approximately 519,875 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,245,271 shares. The stock had previously closed at GBX 6.10 ($0.08).

Wall Street Analyst Weigh In

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

Agronomics Trading Down 4.9 %

The business has a fifty day moving average price of GBX 6.59 and a 200 day moving average price of GBX 4.97. The firm has a market cap of £57.59 million, a PE ratio of -129.67 and a beta of 1.47.

Insider Buying and Selling at Agronomics

In other news, insider James (Jim) Mellon bought 1,300,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($69,011.28). 16.63% of the stock is currently owned by 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.