Agronomics (LON:ANIC) Price Target Cut to GBX 15.90 by Analysts at Canaccord Genuity Group

Agronomics (LON:ANIC) had its target price cut by equities research analysts at Canaccord Genuity Group from GBX 16 ($0.21) to GBX 15.90 ($0.21) in a report issued on Monday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 127.47% from the company’s current price.

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 17.50 ($0.23) target price on shares of Agronomics in a research note on Friday, November 29th.

Agronomics Price Performance

Shares of ANIC traded up GBX 0.02 ($0.00) during mid-day trading on Monday, reaching GBX 6.99 ($0.09). 1,485,375 shares of the company’s stock traded hands, compared to its average volume of 5,072,940. Agronomics has a 12 month low of GBX 3.65 ($0.05) and a 12 month high of GBX 9.30 ($0.12). The stock has a market cap of £69.41 million, a P/E ratio of -156.27 and a beta of 1.47. The stock’s 50-day moving average is GBX 5.09 and its two-hundred day moving average is GBX 4.77.

Insiders Place Their Bets

In related news, insider James (Jim) Mellon bought 1,300,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($67,218.20). 16.63% of the stock is owned by company 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.