Zacks Investment Research Downgrades 22nd Century Group Inc (XXII) to Sell
22nd Century Group Inc (NYSE:XXII) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “
In other 22nd Century Group news, VP Michael Robert Moynihan sold 29,532 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $2.00, for a total transaction of $59,064.00. Following the transaction, the vice president now directly 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 this link.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew 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 worth $5,065,000 after buying an additional 432,450 shares during the period. National Asset Management Inc. grew 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 worth $204,000 after buying an additional 20,700 shares during the period. Northern Trust Corp grew 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 worth $234,000 after buying an additional 24,401 shares during the period. Finally, Virtu KCG Holdings LLC grew its position in 22nd Century Group by 300.9% during the second 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.
About 22nd Century Group
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