Zacks Investment Research upgraded shares of 22nd Century Group Inc (NYSE:XXII) from a sell rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “22nd Century Group, Inc. is a plant biotechnology company focused on decreasing/increasing the level of nicotine in the tobacco plant through genetic engineering and breeding. The Company is focused on development of smoking cessation aid and owns and controls several patents. The company’s products include X-22, a prescription smoking cessation aid, which is a tobacco-based botanical medical product for use as a smoking cessation therapy. 22nd Century Group, Inc. is based in Williamsville, New York. “
Separately, Chardan Capital increased their target price on 22nd Century Group from $3.50 to $11.50 and gave the stock a buy rating in a report on Monday.
Shares of 22nd Century Group (XXII) remained flat at $2.67 during mid-day trading on Wednesday. The company’s stock had a trading volume of 2,475,533 shares. The stock has a 50-day moving average of $2.76 and a 200-day moving average of $1.93. 22nd Century Group has a 12-month low of $0.81 and a 12-month high of $3.50. The firm’s market cap is $274.37 million.
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In other 22nd Century Group news, VP Michael Robert Moynihan sold 50,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $2.67, for a total transaction of $133,500.00. Following the completion of the transaction, the vice president now owns 867,220 shares in the company, valued at approximately $2,315,477.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
A number of hedge funds have recently added to or reduced their stakes in XXII. National Asset Management Inc. boosted its stake in shares of 22nd Century Group by 13.7% during the 1st 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 during the last quarter. Northern Trust Corp boosted its stake in shares of 22nd Century Group by 22.3% during the 2nd 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 during the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of 22nd Century Group by 300.9% during the 2nd 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 during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 22nd Century Group by 17.6% during the 2nd 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 during the last quarter.
About 22nd Century Group
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