22nd Century Group (XXII) Shares Up 8.5%

22nd Century Group Inc (NYSEAMERICAN:XXII) shot up 8.5% during mid-day trading on Wednesday . The company traded as high as $2.06 and last traded at $2.04. 1,397,600 shares changed hands during trading, a decline of 22% from the average session volume of 1,783,796 shares. The stock had previously closed at $1.88.

A number of brokerages have issued reports on XXII. Chardan Capital reissued a “buy” rating and set a $11.50 target price on shares of 22nd Century Group in a research note on Wednesday, May 8th. TheStreet lowered shares of 22nd Century Group from a “c-” rating to a “d+” rating in a research note on Friday, March 29th.

22nd Century Group (NYSEAMERICAN:XXII) last issued its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $6.29 million for the quarter.

Several large investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV acquired a new stake in shares of 22nd Century Group in the 1st quarter valued at $28,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of 22nd Century Group by 52.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 18,348 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 6,323 shares during the last quarter. HRT Financial LLC acquired a new stake in shares of 22nd Century Group in the 4th quarter valued at $33,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of 22nd Century Group in the 4th quarter valued at $33,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of 22nd Century Group in the 4th quarter valued at $38,000.

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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 research cigarettes for use in independent clinical studies.

Further Reading: What is a Lock-Up Period?

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