22nd Century Group Inc (NYSEAMERICAN:XXII) shares fell 5.1% during mid-day trading on Tuesday . The stock traded as low as $1.49 and last traded at $1.49, 1,203,600 shares traded hands during mid-day trading. A decline of 14% from the average session volume of 1,406,894 shares. The stock had previously closed at $1.57.
Several brokerages have issued reports on XXII. Chardan Capital set a $12.00 price target on 22nd Century Group and gave the company a “buy” rating in a research note on Sunday, July 21st. Zacks Investment Research lowered 22nd Century Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 12th.
In other news, insider Clifford B. Fleet bought 100,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were bought at an average cost of $1.90 per share, with a total value of $190,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several large investors have recently modified their holdings of the company. ETF Managers Group LLC bought a new stake in 22nd Century Group during the second quarter worth $17,402,000. BlackRock Inc. grew its holdings in 22nd Century Group by 3.2% during the second quarter. BlackRock Inc. now owns 8,039,572 shares of the biotechnology company’s stock worth $16,803,000 after buying an additional 250,925 shares in the last quarter. Vanguard Group Inc. grew its holdings in 22nd Century Group by 5.8% during the second quarter. Vanguard Group Inc. now owns 5,980,744 shares of the biotechnology company’s stock worth $12,499,000 after buying an additional 330,001 shares in the last quarter. Northern Trust Corp grew its holdings in 22nd Century Group by 2.2% during the second quarter. Northern Trust Corp now owns 1,321,395 shares of the biotechnology company’s stock worth $2,762,000 after buying an additional 28,449 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in 22nd Century Group by 3.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 267,453 shares of the biotechnology company’s stock worth $559,000 after buying an additional 9,000 shares in the last quarter.
22nd Century Group Company Profile (NYSEAMERICAN:XXII)
22nd Century Group, Inc, a plant biotechnology company, provides technology that allows increasing or decreasing the level of nicotine and other nicotinic alkaloids in tobacco plants, and cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. It offers premium cigarettes under the RED SUN and MAGIC brands; and SPECTRUM research cigarettes for use in independent clinical studies.
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