Zacks Investment Research downgraded shares of 22nd Century Group Inc (NYSE:XXII) from a buy rating to a hold rating in a report published on Friday.

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. “

22nd Century Group (XXII) opened at 2.03 on Friday. The stock’s market capitalization is $208.60 million. The firm has a 50-day moving average of $1.85 and a 200 day moving average of $1.43. 22nd Century Group has a 52 week low of $0.81 and a 52 week high of $2.84.

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In other news, VP Michael Robert Moynihan sold 29,532 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $2.00, for a total value of $59,064.00. Following the completion of the sale, the vice president now directly owns 917,220 shares in the company, valued at approximately $1,834,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of 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 during the period. Virtu KCG Holdings LLC increased its stake in shares of 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 during the period. Northern Trust Corp increased its stake in shares of 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 during the period. Finally, National Asset Management Inc. increased its stake in shares of 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 during the period.

About 22nd Century Group

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