Zacks Investment Research Downgrades 22nd Century Group Inc (XXII) to Hold
22nd Century Group Inc (NYSE:XXII) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
Shares of 22nd Century Group (NYSE XXII) traded down 0.47% during trading on Friday, hitting $2.11. The company had a trading volume of 175,332 shares. The stock has a 50-day moving average of $1.83 and a 200 day moving average of $1.41. The stock’s market capitalization is $216.82 million. 22nd Century Group has a 12-month low of $0.81 and a 12-month high of $2.84.
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In other news, VP Michael Robert Moynihan sold 20,468 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $2.00, for a total transaction of $40,936.00. Following the completion of the sale, the vice president now owns 946,752 shares in the company, valued at $1,893,504. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Several large investors have recently added to or reduced their stakes in XXII. Virtu KCG Holdings LLC increased its stake 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 valued at $221,000 after buying an additional 94,650 shares in the last quarter. Vanguard Group Inc. increased its stake in 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 valued at $5,065,000 after buying an additional 432,450 shares in the last quarter. Northern Trust Corp increased its stake in 22nd Century Group by 22.3% in the second quarter. Northern Trust Corp now owns 133,797 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 24,401 shares in the last quarter. Finally, National Asset Management Inc. increased its stake in 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 valued at $204,000 after buying an additional 20,700 shares in the last quarter.
22nd Century Group Company Profile
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