Zacks: Analysts Set $3.50 Price Target for 22nd Century Group Inc (XXII)

Shares of 22nd Century Group Inc (NYSE:XXII) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus price objective of $3.50 for the company, according to Zacks. Zacks has also assigned 22nd Century Group an industry rank of 92 out of 265 based on the ratings given to related companies.

Separately, Zacks Investment Research lowered shares of 22nd Century Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th.

22nd Century Group (NYSE XXII) traded up 4.55% during midday trading on Monday, hitting $2.30. 5,687,945 shares of the stock traded hands. 22nd Century Group has a 1-year low of $0.81 and a 1-year high of $2.84. The company has a 50-day moving average price of $1.79 and a 200-day moving average price of $1.38. The firm’s market cap is $236.35 million.

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In other news, VP Michael Robert Moynihan sold 29,532 shares of 22nd Century Group stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $2.00, for a total value of $59,064.00. Following the transaction, the vice president now owns 917,220 shares of the company’s stock, valued at $1,834,440. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional investors have recently added to or reduced their stakes in the stock. National Asset Management Inc. raised its position in 22nd Century Group by 13.7% in the first quarter. National Asset Management Inc. now owns 172,000 shares of the biotechnology company’s stock worth $204,000 after buying an additional 20,700 shares in the last quarter. Northern Trust Corp raised its position in 22nd Century Group by 22.3% in the second quarter. Northern Trust Corp now owns 133,797 shares of the biotechnology company’s stock worth $234,000 after buying an additional 24,401 shares in the last quarter. Vanguard Group Inc. raised its position in 22nd Century Group by 17.6% in the second quarter. Vanguard Group Inc. now owns 2,894,322 shares of the biotechnology company’s stock worth $5,065,000 after buying an additional 432,450 shares in the last quarter. Finally, Virtu KCG Holdings LLC raised its position in 22nd Century Group by 300.9% in the second quarter. Virtu KCG Holdings LLC now owns 126,106 shares of the biotechnology company’s stock worth $221,000 after buying an additional 94,650 shares in the last quarter.

About 22nd Century Group

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