22nd Century Group Inc (XXII) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of 22nd Century Group Inc (NYSE:XXII) from a sell rating to a hold rating in a research report sent to investors on Wednesday, October 18th. Zacks Investment Research currently has $3.00 target price on the biotechnology company’s stock.

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. “

Separately, Chardan Capital raised their target price on shares of 22nd Century Group from $3.50 to $11.50 and gave the company a buy rating in a research report on Monday, October 16th.

Shares of 22nd Century Group (NYSE XXII) traded up $0.20 during trading on Wednesday, reaching $2.19. 2,564,952 shares of the company’s stock were exchanged, compared to its average volume of 4,570,000. 22nd Century Group has a 1 year low of $0.81 and a 1 year high of $3.50.

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In other news, VP Michael Robert Moynihan sold 50,000 shares of 22nd Century Group stock in a transaction on Friday, September 29th. The shares were sold at an average price of $2.67, for a total transaction of $133,500.00. Following the transaction, the vice president now owns 867,220 shares in the company, valued at $2,315,477.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu KCG Holdings LLC raised its stake 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 last quarter. National Asset Management Inc. raised its stake 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 last quarter. Bank of New York Mellon Corp raised its stake in 22nd Century Group by 46.7% during the third quarter. Bank of New York Mellon Corp now owns 102,993 shares of the biotechnology company’s stock worth $285,000 after buying an additional 32,773 shares during the last quarter. Advisor Group Inc. increased its stake in 22nd Century Group by 49.3% in the third quarter. Advisor Group Inc. now owns 73,775 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 24,375 shares in the last quarter. Finally, Bristol Advisors LLC bought a new stake in 22nd Century Group in the third quarter valued at $201,000.

22nd Century Group Company Profile

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