Canaccord Genuity Group Has Lowered Expectations for Agronomics (LON:ANIC) Stock Price

Agronomics (LON:ANIC) had its price objective lowered by Canaccord Genuity Group from GBX 16 ($0.21) to GBX 15.90 ($0.21) in a research note issued on Monday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 121.73% from the company’s previous close.

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

Agronomics Trading Up 3.9 %

Shares of LON ANIC opened at GBX 7.17 ($0.09) on Monday. The stock has a fifty day simple moving average of GBX 5.21 and a two-hundred day simple moving average of GBX 4.80. Agronomics has a 1-year low of GBX 3.65 ($0.05) and a 1-year high of GBX 9.30 ($0.12). The firm has a market cap of £71.20 million, a price-to-earnings ratio of -160.32 and a beta of 1.47.

Insiders Place Their Bets

In other news, insider James (Jim) Mellon acquired 1,300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of GBX 4 ($0.05) per share, for a total transaction of £52,000 ($67,602.70). 16.63% of the stock is currently owned by company insiders.

Agronomics Company Profile

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.