Shares of 22nd Century Group Inc (NYSEAMERICAN:XXII) saw unusually-strong trading volume on Wednesday . 1,103,800 shares were traded during trading, a decline of 49% from the previous session’s volume of 2,162,121 shares.The stock last traded at $2.58 and had previously closed at $2.56.

Several research firms have recently commented on XXII. Zacks Investment Research lowered shares of 22nd Century Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Chardan Capital upped their price target 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.

The stock has a market cap of $316.32, a PE ratio of -22.38 and a beta of 2.97.

22nd Century Group (NYSEAMERICAN:XXII) last released its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $4.53 million for the quarter, compared to the consensus estimate of $5.09 million. 22nd Century Group had a negative return on equity of 50.30% and a negative net margin of 73.20%. The firm’s revenue was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) EPS.

A number of institutional investors and hedge funds have recently made changes to their positions in XXII. Steward Partners Investment Advisory LLC bought a new position in 22nd Century Group in the 3rd quarter valued at about $100,000. Wells Fargo & Company MN grew its position 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 valued at $190,000 after buying an additional 64,000 shares in the last quarter. Bristol Advisors LLC bought a new position in 22nd Century Group in the 3rd quarter valued at about $201,000. Advisor Group Inc. grew its position 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 valued at $204,000 after buying an additional 24,375 shares in the last quarter. Finally, Virtu KCG Holdings LLC grew its position 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 valued at $221,000 after buying an additional 94,650 shares in the last quarter.

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About 22nd Century Group

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