Chardan Capital set a $12.00 price target on 22nd Century Group (NYSEAMERICAN:XXII) in a research note released on Sunday, TipRanks reports. The firm currently has a buy rating on the biotechnology company’s stock.
Separately, TheStreet downgraded 22nd Century Group from a c- rating to a d+ rating in a report on Friday, March 29th.
XXII remained flat at $$1.91 during trading on Friday. The company’s stock had a trading volume of 2,070,704 shares, compared to its average volume of 1,528,144. 22nd Century Group has a 52 week low of $1.58 and a 52 week high of $3.29.
22nd Century Group (NYSEAMERICAN:XXII) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share for the quarter. The business had revenue of $6.29 million during the quarter.
In other news, VP Thomas L. James sold 48,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $2.11, for a total transaction of $101,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC boosted its position in 22nd Century Group by 16.9% in the 4th quarter. Cetera Advisors LLC now owns 27,615 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 4,000 shares during the last quarter. Advisor Group Inc. boosted its position in 22nd Century Group by 9.4% in the 4th quarter. Advisor Group Inc. now owns 61,340 shares of the biotechnology company’s stock valued at $152,000 after buying an additional 5,250 shares during the last quarter. LPL Financial LLC boosted its position in 22nd Century Group by 49.1% in the 4th quarter. LPL Financial LLC now owns 26,800 shares of the biotechnology company’s stock valued at $67,000 after buying an additional 8,820 shares during the last quarter. IHT Wealth Management LLC boosted its position in 22nd Century Group by 67.8% in the 4th quarter. IHT Wealth Management LLC now owns 25,000 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 10,100 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in 22nd Century Group in the 1st quarter valued at about $28,000.
About 22nd Century Group
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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