22nd Century Group Inc (NYSEAMERICAN:XXII) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 9,677,128 shares, a decline of 2.9% from the October 13th total of 9,966,801 shares. Based on an average daily volume of 4,425,009 shares, the short-interest ratio is presently 2.2 days. Currently, 9.1% of the shares of the company are sold short.

XXII has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of 22nd Century Group from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Chardan Capital boosted their price target on shares of 22nd Century Group from $3.50 to $11.50 and gave the stock a “buy” rating in a report on Monday, October 16th.

In related news, VP Michael Robert Moynihan sold 50,000 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $2.67, for a total value of $133,500.00. Following the completion of the transaction, the vice president now directly owns 867,220 shares in the company, valued at approximately $2,315,477.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several institutional investors have recently added to or reduced their stakes in XXII. Wells Fargo & Company MN grew its holdings in shares of 22nd Century Group by 1,422.2% during the third quarter. Wells Fargo & Company MN now owns 68,500 shares of the biotechnology company’s stock worth $190,000 after buying an additional 64,000 shares in the last quarter. Bristol Advisors LLC purchased a new stake in shares of 22nd Century Group during the third quarter worth $201,000. Advisor Group Inc. grew its holdings in shares of 22nd Century Group by 49.3% during the third quarter. Advisor Group Inc. now owns 73,775 shares of the biotechnology company’s stock worth $204,000 after buying an additional 24,375 shares in the last quarter. Virtu KCG Holdings LLC grew its holdings in shares of 22nd Century Group by 300.9% during the second quarter. Virtu KCG Holdings LLC now owns 126,106 shares of the biotechnology company’s stock worth $221,000 after buying an additional 94,650 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of 22nd Century Group by 22.3% during the second quarter. Northern Trust Corp now owns 133,797 shares of the biotechnology company’s stock worth $234,000 after buying an additional 24,401 shares in the last quarter.

Shares of 22nd Century Group (NYSEAMERICAN XXII) opened at $2.18 on Wednesday. 22nd Century Group has a 1-year low of $0.81 and a 1-year high of $3.50.

22nd Century Group (NYSEAMERICAN:XXII) last issued 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 company had revenue of $4.53 million during the quarter, compared to analysts’ expectations of $5.09 million. 22nd Century Group had a negative return on equity of 57.55% and a negative net margin of 86.10%. 22nd Century Group’s revenue was up 46.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS.

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22nd Century Group Company Profile

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