22nd Century Group (NYSEAMERICAN:XXII) Trading 9.2% Higher

22nd Century Group, Inc. (NYSEAMERICAN:XXII) traded up 9.2% on Thursday . The stock traded as high as $3.70 and last traded at $3.69. 39,827 shares changed hands during trading, a decline of 99% from the average session volume of 3,455,775 shares. The stock had previously closed at $3.38.

Separately, Zacks Investment Research raised 22nd Century Group from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Tuesday, March 30th.

The stock has a fifty day moving average price of $2.29 and a 200 day moving average price of $1.32.

22nd Century Group (NYSEAMERICAN:XXII) last posted its quarterly earnings results on Wednesday, March 10th. The biotechnology company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.02).

In other 22nd Century Group news, Director Roger D. O’brien acquired 52,400 shares of the stock in a transaction that occurred on Tuesday, March 16th. The shares were bought at an average price of $2.86 per share, for a total transaction of $149,864.00. Following the completion of the transaction, the director now owns 179,223 shares of the company’s stock, valued at approximately $512,577.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James A. Mish acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, March 31st. The stock was acquired at an average price of $3.23 per share, for a total transaction of $48,450.00. Following the transaction, the chief executive officer now directly owns 715,000 shares of the company’s stock, valued at approximately $2,309,450. The disclosure for this purchase can be found here.

Several hedge funds have recently modified their holdings of the stock. Private Asset Management Inc. purchased a new stake in 22nd Century Group during the first quarter valued at about $36,000. Cambridge Investment Research Advisors Inc. purchased a new stake in 22nd Century Group during the fourth quarter valued at about $37,000. Allegheny Financial Group LTD purchased a new stake in 22nd Century Group during the fourth quarter valued at about $48,000. Paloma Partners Management Co purchased a new stake in 22nd Century Group during the fourth quarter valued at about $56,000. Finally, Ballew Advisors Inc raised its position in 22nd Century Group by 61.2% during the fourth quarter. Ballew Advisors Inc now owns 31,005 shares of the biotechnology company’s stock valued at $84,000 after purchasing an additional 11,775 shares in the last quarter.

About 22nd Century Group (NYSEAMERICAN:XXII)

22nd Century Group, Inc, a plant biotechnology company, provides technology that allows to alter the level of nicotine and other nicotinic alkaloids in tobacco plants, and cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. The company offers SPECTRUM research cigarettes for use in independent clinical studies; and very low nicotine content (VLNC) tobacco cigarettes under the Moonlight and Moonlight Menthol brands.

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