22nd Century Group (XXII) Stock Price Down 5.8%

Shares of 22nd Century Group Inc (NYSEAMERICAN:XXII) fell 5.8% on Tuesday . The company traded as low as $2.44 and last traded at $2.45. 1,897,475 shares changed hands during trading, a decline of 13% from the average session volume of 2,173,905 shares. The stock had previously closed at $2.60.

A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of 22nd Century Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Chardan Capital lifted their price objective on shares of 22nd Century Group from $3.50 to $11.50 and gave the company a “buy” rating in a research report on Monday, October 16th.

22nd Century Group (NYSEAMERICAN:XXII) last issued its earnings results on Thursday, November 9th. The biotechnology company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $4.53 million for the quarter, compared to analysts’ expectations of $5.09 million. 22nd Century Group had a negative return on equity of 50.30% and a negative net margin of 73.20%. 22nd Century Group’s revenue for the quarter was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share.

In other news, VP Michael Robert Moynihan sold 50,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were 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 of the company’s stock, valued at approximately $2,315,477.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XXII. Northern Trust Corp boosted its holdings in 22nd Century Group by 22.3% in the 2nd quarter. Northern Trust Corp now owns 133,797 shares of the biotechnology company’s stock worth $234,000 after acquiring an additional 24,401 shares during the period. 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 valued at $5,065,000 after buying an additional 432,450 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 valued at $221,000 after buying an additional 94,650 shares during the last quarter. Bristol Advisors LLC acquired a new stake in shares of 22nd Century Group during the 3rd quarter valued at approximately $201,000. Finally, Advisor Group Inc. raised its position in shares of 22nd Century Group by 49.3% during the 3rd quarter. Advisor Group Inc. now owns 73,775 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 24,375 shares in the last quarter.

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