22nd Century Group Inc (XXII) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of 22nd Century Group Inc (NYSE:XXII) from a hold rating to a sell rating in a report issued on Saturday morning.
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 2.29 on Friday. The company’s market cap is $235.32 million. The stock has a 50 day moving average of $1.99 and a 200-day moving average of $1.51. 22nd Century Group has a one year low of $0.81 and a one year high of $2.84.
In related news, VP Michael Robert Moynihan sold 29,532 shares of the business’s stock in a transaction 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 sale, the vice president now owns 917,220 shares in the company, valued at $1,834,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu KCG Holdings LLC increased 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 purchasing an additional 94,650 shares during the last quarter. Vanguard Group Inc. increased its position in 22nd Century Group by 17.6% during the second quarter. Vanguard Group Inc. now owns 2,894,322 shares of the biotechnology company’s stock valued at $5,065,000 after acquiring an additional 432,450 shares during the last quarter. Northern Trust Corp increased its position in 22nd Century Group by 22.3% during the second quarter. Northern Trust Corp now owns 133,797 shares of the biotechnology company’s stock valued at $234,000 after acquiring an additional 24,401 shares during the last quarter. Finally, National Asset Management Inc. increased its position in 22nd Century Group by 13.7% during the first quarter. National Asset Management Inc. now owns 172,000 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 20,700 shares during the last quarter.
22nd Century Group Company Profile
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