22nd Century Group (NASDAQ:XXII) Announces Quarterly Earnings Results

22nd Century Group (NASDAQ:XXIIGet Rating) posted its earnings results on Thursday. The biotechnology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01, MarketWatch Earnings reports. 22nd Century Group had a negative return on equity of 38.82% and a negative net margin of 105.37%. During the same quarter last year, the company earned ($0.03) EPS.

Shares of NASDAQ:XXII opened at $1.76 on Friday. The company has a 50-day simple moving average of $2.16. 22nd Century Group has a 52-week low of $1.74 and a 52-week high of $5.25.

Several research firms have weighed in on XXII. Roth Capital began coverage on 22nd Century Group in a report on Tuesday, March 8th. They set a “buy” rating and a $6.00 target price on the stock. Zacks Investment Research downgraded 22nd Century Group from a “buy” rating to a “hold” rating in a research report on Thursday.

Several large investors have recently modified their holdings of the company. State Street Corp grew its position in 22nd Century Group by 11.7% during the fourth quarter. State Street Corp now owns 3,143,467 shares of the biotechnology company’s stock worth $9,713,000 after buying an additional 329,494 shares in the last quarter. BlackRock Inc. grew its position in 22nd Century Group by 2.4% during the fourth quarter. BlackRock Inc. now owns 10,191,168 shares of the biotechnology company’s stock worth $31,491,000 after buying an additional 240,081 shares in the last quarter. JPMorgan Chase & Co. grew its position in 22nd Century Group by 107.8% during the fourth quarter. JPMorgan Chase & Co. now owns 284,953 shares of the biotechnology company’s stock worth $880,000 after buying an additional 147,798 shares in the last quarter. Two Sigma Investments LP acquired a new stake in 22nd Century Group during the third quarter worth about $290,000. Finally, Millennium Management LLC acquired a new stake in 22nd Century Group during the third quarter worth about $274,000. 28.18% of the stock is currently owned by institutional investors.

22nd Century Group Company Profile (Get Rating)

22nd Century Group, Inc, an agricultural biotechnology company, focuses on tobacco harm reduction, reduced nicotine tobacco, and enhancing health and wellness through plant science for the life science and consumer products industries. It develops very low nicotine content tobacco and cigarette products under the VLN King and VLN Menthol King names; and SPECTRUM research cigarettes for use in independent clinical studies.

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Earnings History for 22nd Century Group (NASDAQ:XXII)

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