22nd Century Group Inc (XXII) Trading 6.8% Higher

22nd Century Group Inc (NYSEAMERICAN:XXII)’s share price traded up 6.8% on Tuesday . The company traded as high as $2.37 and last traded at $2.36. 2,921,900 shares were traded during trading, an increase of 35% from the average session volume of 2,167,932 shares. The stock had previously closed at $2.21.

A number of equities analysts recently weighed in on the stock. Chardan Capital upped their target price on shares of 22nd Century Group from $3.50 to $11.50 and gave the stock a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research lowered shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th.

22nd Century Group (NYSEAMERICAN:XXII) last released its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). 22nd Century Group had a negative net margin of 86.10% and a negative return on equity of 57.55%. The business had revenue of $4.53 million for the quarter, compared to the consensus estimate of $5.09 million. During the same quarter last year, the business earned ($0.03) EPS. 22nd Century Group’s revenue for the quarter was up 46.1% compared to the same quarter last year.

In other 22nd Century Group news, VP Michael Robert Moynihan sold 50,000 shares of the 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 completion of the transaction, the vice president now owns 867,220 shares in the company, valued at $2,315,477.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Several institutional 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 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. Bristol Advisors LLC purchased a new position in 22nd Century Group in the 3rd quarter worth about $201,000. Wells Fargo & Company MN increased its stake in 22nd Century Group by 1,422.2% in the 3rd quarter. Wells Fargo & Company MN now owns 68,500 shares of the biotechnology company’s stock worth $190,000 after buying an additional 64,000 shares during the period. Bank of New York Mellon Corp increased its stake in 22nd Century Group by 46.7% in the 3rd 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 period. Finally, Advisor Group Inc. increased its stake in 22nd Century Group by 49.3% in the 3rd quarter. Advisor Group Inc. now owns 73,775 shares of the biotechnology company’s stock worth $204,000 after buying an additional 24,375 shares during the period.

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