Bank of New York Mellon Corp raised its stake in 22nd Century Group Inc (NYSEAMERICAN:XXII) by 200.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 337,281 shares of the biotechnology company’s stock after buying an additional 225,039 shares during the quarter. Bank of New York Mellon Corp owned about 0.27% of 22nd Century Group worth $830,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Verition Fund Management LLC purchased a new stake in 22nd Century Group in the 1st quarter valued at $113,000. Cobblestone Capital Advisors LLC NY purchased a new stake in 22nd Century Group in the 2nd quarter worth about $159,000. State Board of Administration of Florida Retirement System purchased a new stake in 22nd Century Group in the 2nd quarter worth about $167,000. Rhumbline Advisers bought a new position in 22nd Century Group in the 2nd quarter worth about $246,000. Finally, PNC Financial Services Group Inc. bought a new position in 22nd Century Group in the 1st quarter worth about $240,000.
Separately, Zacks Investment Research downgraded 22nd Century Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th.
NYSEAMERICAN:XXII traded up $0.16 during mid-day trading on Friday, reaching $2.79. The stock had a trading volume of 1,911,346 shares, compared to its average volume of 2,477,090. 22nd Century Group Inc has a one year low of $1.92 and a one year high of $4.44.
22nd Century Group (NYSEAMERICAN:XXII) last released its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported $0.04 earnings per share for the quarter. The firm had revenue of $6.26 million for the quarter.
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About 22nd Century Group
22nd Century Group, Inc, a plant biotechnology company, provides technology that allows increasing or decreasing the level of nicotine and other nicotinic alkaloids in tobacco plants, and cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. It offers premium cigarettes under the RED SUN and MAGIC brands; and SPECTRUM, a line of research cigarettes for use in independent clinical studies.
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