Cambridge Investment Research Advisors Inc. increased its position in 22nd Century Group, Inc. (NASDAQ:XXII – Get Rating) by 24.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,087 shares of the biotechnology company’s stock after acquiring an additional 14,000 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in 22nd Century Group were worth $67,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of XXII. Prudential Financial Inc. grew its holdings in 22nd Century Group by 1,908.3% during the 1st quarter. Prudential Financial Inc. now owns 227,740 shares of the biotechnology company’s stock valued at $528,000 after buying an additional 216,400 shares during the last quarter. Millennium Management LLC grew its holdings in 22nd Century Group by 52.0% during the 2nd quarter. Millennium Management LLC now owns 609,253 shares of the biotechnology company’s stock valued at $1,298,000 after buying an additional 208,560 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in 22nd Century Group during the 1st quarter valued at $328,000. Vident Investment Advisory LLC grew its holdings in 22nd Century Group by 66.2% during the 1st quarter. Vident Investment Advisory LLC now owns 331,585 shares of the biotechnology company’s stock valued at $769,000 after buying an additional 132,130 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in 22nd Century Group during the 2nd quarter valued at $268,000. Institutional investors and hedge funds own 20.63% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Alliance Global Partners lowered their target price on 22nd Century Group from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, November 9th.
22nd Century Group Stock Up 8.0 %
22nd Century Group (NASDAQ:XXII – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The biotechnology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). 22nd Century Group had a negative return on equity of 49.37% and a negative net margin of 93.35%. The business had revenue of $19.38 million for the quarter, compared to analysts’ expectations of $19.63 million. Equities research analysts anticipate that 22nd Century Group, Inc. will post -0.24 EPS for the current year.
22nd Century Group Profile
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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