Shares of 22nd Century Group, Inc. (NYSEAMERICAN:XXII) fell 6.8% during trading on Thursday . The stock traded as low as $2.17 and last traded at $2.20. 1,877,601 shares changed hands during trading, an increase of 7% from the average session volume of 1,755,184 shares. The stock had previously closed at $2.36.
Separately, Zacks Investment Research downgraded shares of 22nd Century Group from a “buy” rating to a “hold” rating and set a $2.75 target price on the stock. in a research report on Saturday, December 19th.
22nd Century Group (NYSEAMERICAN:XXII) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $7.31 million for the quarter, compared to analyst estimates of $5.50 million.
In other 22nd Century Group news, CEO James A. Mish purchased 100,000 shares of 22nd Century Group stock in a transaction that occurred on Tuesday, November 17th. The stock was acquired at an average price of $0.93 per share, with a total value of $93,000.00.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in shares of 22nd Century Group in the second quarter valued at approximately $912,000. Bank of America Corp DE raised its position in 22nd Century Group by 9,837.7% in the 2nd quarter. Bank of America Corp DE now owns 425,432 shares of the biotechnology company’s stock valued at $325,000 after buying an additional 421,151 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in 22nd Century Group in the 2nd quarter valued at $177,000. Charter Trust Co. lifted its stake in 22nd Century Group by 21.1% during the 3rd quarter. Charter Trust Co. now owns 160,450 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 28,000 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its holdings in 22nd Century Group by 52.2% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 70,000 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 24,000 shares during the last quarter.
22nd Century Group Company Profile (NYSEAMERICAN:XXII)
22nd Century Group, Inc, a plant biotechnology company, provides technology that allows to alter the level of nicotine and other nicotinic alkaloids in tobacco plants, and cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. The company offers SPECTRUM research cigarettes for use in independent clinical studies; and very low nicotine content (VLNC) tobacco cigarettes under the Moonlight and Moonlight Menthol brands.
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