22nd Century Group, Inc. (NASDAQ:XXII) CEO Lawrence Firestone Purchases 39,000 Shares

22nd Century Group, Inc. (NASDAQ:XXII) CEO Lawrence Firestone purchased 39,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average cost of $0.27 per share, with a total value of $10,530.00. Following the acquisition, the chief executive officer now owns 54,250 shares in the company, valued at approximately $14,647.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

22nd Century Group Price Performance

NASDAQ:XXII traded down $0.01 during trading hours on Thursday, hitting $0.27. The company’s stock had a trading volume of 10,508,363 shares, compared to its average volume of 790,601. The company has a market capitalization of $2.23 million, a P/E ratio of 0.00 and a beta of 1.41. 22nd Century Group, Inc. has a twelve month low of $0.26 and a twelve month high of $23.20. The stock has a fifty day simple moving average of $0.60 and a 200-day simple moving average of $7.16.

22nd Century Group (NASDAQ:XXII) last announced its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The company had revenue of $7.95 million for the quarter. 22nd Century Group had a negative net margin of 275.12% and a negative return on equity of 380.39%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on 22nd Century Group in a research note on Sunday. They set a “sell” rating for the company.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP boosted its holdings in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,577,814 shares of the biotechnology company’s stock after purchasing an additional 3,399,323 shares during the quarter. Anson Funds Management LP owned about 83.28% of 22nd Century Group worth $789,000 at the end of the most recent quarter. Institutional investors and hedge funds own 18.06% of the company’s stock.

About 22nd Century Group

22nd Century Group, Inc, a tobacco products company, engages in the sale and distribution of its own proprietary new reduced nicotine tobacco products. The company offers reduced nicotine content tobacco plants and very low nicotine combustible cigarette products. It also provides contract manufacturing services for conventional combustible tobacco products for third-party brands.