22nd Century Group Inc (NYSE:XXII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

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 (XXII) traded down 2.21% during trading on Tuesday, hitting $3.10. The stock had a trading volume of 1,055,500 shares. 22nd Century Group has a one year low of $0.81 and a one year high of $3.34. The stock’s market capitalization is $318.56 million. The stock has a 50 day moving average price of $2.32 and a 200-day moving average price of $1.64.

TRADEMARK VIOLATION NOTICE: “22nd Century Group Inc (XXII) Stock Rating Upgraded by Zacks Investment Research” was published by American Banking News and is the property of of American Banking News. If you are accessing this report on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/09/19/22nd-century-group-inc-xxii-stock-rating-upgraded-by-zacks-investment-research.html.

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

A number of institutional investors and hedge funds have recently made changes to their positions in XXII. National Asset Management Inc. lifted its holdings in 22nd Century Group by 82.8% during the 3rd quarter. National Asset Management Inc. now owns 145,700 shares of the biotechnology company’s stock worth $197,000 after buying an additional 66,000 shares during the period. Virtu KCG Holdings LLC lifted its holdings in 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 during the period. Northern Trust Corp lifted its holdings in 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 during the period. Hudson Bay Capital Management LP acquired a new position in 22nd Century Group during the 1st quarter worth about $250,000. Finally, FNY Managed Accounts LLC lifted its holdings in 22nd Century Group by 68.2% during the 3rd quarter. FNY Managed Accounts LLC now owns 175,403 shares of the biotechnology company’s stock worth $254,000 after buying an additional 71,100 shares during the period.

About 22nd Century Group

Get a free copy of the Zacks research report on 22nd Century Group (XXII)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for 22nd Century Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 22nd Century Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.