22nd Century Group (XXII) Shares Down 9.2%

22nd Century Group Inc (NYSEAMERICAN:XXII) was down 9.2% during mid-day trading on Thursday . The stock traded as low as $2.74 and last traded at $2.76. Approximately 3,503,119 shares traded hands during trading, an increase of 39% from the average daily volume of 2,528,754 shares. The stock had previously closed at $3.04.

Separately, Zacks Investment Research cut shares of 22nd Century Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 16th.

22nd Century Group (NYSEAMERICAN:XXII) last released its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter. 22nd Century Group had a negative return on equity of 50.30% and a negative net margin of 73.20%. The firm had revenue of $6.92 million for the quarter.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of 22nd Century Group by 162.0% during the 2nd quarter. BlackRock Inc. now owns 7,361,866 shares of the biotechnology company’s stock worth $18,110,000 after acquiring an additional 4,551,911 shares during the period. Northern Trust Corp lifted its holdings in shares of 22nd Century Group by 450.1% during the 2nd quarter. Northern Trust Corp now owns 1,270,600 shares of the biotechnology company’s stock worth $3,125,000 after acquiring an additional 1,039,608 shares during the period. Millennium Management LLC lifted its holdings in shares of 22nd Century Group by 362.4% during the 1st quarter. Millennium Management LLC now owns 1,258,191 shares of the biotechnology company’s stock worth $2,957,000 after acquiring an additional 986,118 shares during the period. Courier Capital LLC lifted its holdings in shares of 22nd Century Group by 1,292.0% during the 3rd quarter. Courier Capital LLC now owns 365,777 shares of the biotechnology company’s stock worth $1,028,000 after acquiring an additional 339,499 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 22nd Century Group by 200.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 337,281 shares of the biotechnology company’s stock worth $830,000 after acquiring an additional 225,039 shares during the period.

About 22nd Century Group (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, a line of research cigarettes for use in independent clinical studies.

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