22nd Century Group Inc (XXII) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of 22nd Century Group Inc (NYSE:XXII) from a hold rating to a sell rating in a report released on Tuesday, September 12th.

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. “

22nd Century Group (NYSE XXII) traded down 4.1357% during midday trading on Tuesday, hitting $3.0389. The stock had a trading volume of 2,320,432 shares. The firm’s market capitalization is $312.28 million. 22nd Century Group has a 52-week low of $0.81 and a 52-week high of $3.34. The firm has a 50-day moving average of $2.32 and a 200 day moving average of $1.64.

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In other news, VP Michael Robert Moynihan sold 29,532 shares of 22nd Century Group 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 completion of the sale, the vice president now directly owns 917,220 shares in the company, valued at $1,834,440. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional investors have recently added to or reduced their stakes in the stock. National Asset Management Inc. grew its holdings 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 purchasing an additional 20,700 shares during the period. Virtu KCG Holdings LLC grew its holdings 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 purchasing an additional 94,650 shares during the period. Vanguard Group Inc. grew its holdings 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 purchasing an additional 432,450 shares during the period. Finally, Northern Trust Corp grew its holdings 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 purchasing an additional 24,401 shares during the period.

22nd Century Group Company Profile

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