Canaccord Genuity Group Lowers Agronomics (LON:ANIC) Price Target to GBX 13.30

Agronomics (LON:ANIC) had its price objective lowered by equities researchers at Canaccord Genuity Group from GBX 14 to GBX 13.30 in a research note issued to investors on Tuesday,Digital Look reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 90.00% from the stock’s previous close.

Agronomics Trading Up 3.7%

ANIC opened at GBX 7 on Tuesday. The company’s 50 day moving average is GBX 6.68 and its 200-day moving average is GBX 6.66. Agronomics has a 1-year low of GBX 5.20 and a 1-year high of GBX 9.60. The company has a market cap of £73.96 million, a P/E ratio of -4.38 and a beta of 0.92.

Agronomics (LON:ANIC) last posted its quarterly earnings results on Tuesday, February 17th. The company reported GBX 0.99 earnings per share for the quarter. Agronomics had a net margin of 135.81% and a negative return on equity of 12.24%. On average, equities analysts forecast that Agronomics will post 1.8426626 EPS for the current year.

Insider Buying and Selling at Agronomics

In related news, insider James (Jim) Mellon purchased 1,475,000 shares of Agronomics stock in a transaction dated Wednesday, March 11th. The shares were bought at an average cost of GBX 7 per share, for a total transaction of £103,250. In the last 90 days, insiders have purchased 2,859,215 shares of company stock valued at $18,980,290. Company insiders own 16.23% 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. This disruption will decouple supply chains from the environment and animals, as well as being fundamental to feeding the world’s expanding population.