22nd Century Group Inc (NYSE:XXII) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of 22nd Century Group Inc (NYSE:XXII) from a sell rating to a hold rating in a report released on Wednesday, October 18th. They currently have $3.00 price objective on the biotechnology company’s stock.

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 research note on Monday, October 16th.

Shares of 22nd Century Group (NYSE XXII) traded down 10.24% during midday trading on Wednesday, hitting $2.28. 5,495,331 shares of the company traded hands. The stock has a 50 day moving average of $2.81 and a 200-day moving average of $1.99. The stock’s market capitalization is $234.29 million. 22nd Century Group has a 52 week low of $0.81 and a 52 week high of $3.50.

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In other 22nd Century Group news, VP Michael Robert Moynihan sold 50,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $2.67, for a total value of $133,500.00. Following the sale, the vice president now owns 867,220 shares in the company, valued at $2,315,477.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional investors and hedge funds have recently bought and sold shares of the company. National Asset Management Inc. grew its position 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 in the last quarter. Virtu KCG Holdings LLC grew its position 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 in the last quarter. Northern Trust Corp grew its position 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 in the last quarter. Finally, Vanguard Group Inc. grew its position 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 in the last quarter.

About 22nd Century Group

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