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

22nd Century Group, Inc. (NASDAQ:XXII) CEO Lawrence Firestone acquired 39,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $0.27 per share, for a total transaction of $10,530.00. Following the completion of the transaction, the chief executive officer now owns 54,250 shares in the company, valued at approximately $14,647.50. The purchase was disclosed in a document filed with the SEC, which is available at this link.

22nd Century Group Price Performance

Shares of NASDAQ XXII opened at $0.34 on Friday. The stock’s 50-day simple moving average is $0.59 and its 200-day simple moving average is $6.87. 22nd Century Group, Inc. has a fifty-two week low of $0.26 and a fifty-two week high of $22.40.

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

Analyst Ratings Changes

Separately, StockNews.com started coverage on 22nd Century Group in a report on Saturday. They issued a “sell” rating on the stock.

Institutional Trading of 22nd Century Group

A hedge fund recently raised its stake in 22nd Century Group stock. Anson Funds Management LP grew its position in 22nd Century Group, Inc. (NASDAQ:XXII) by 106.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,577,814 shares of the biotechnology company’s stock after acquiring 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 reporting period. Institutional investors and hedge funds own 18.06% of the company’s stock.

22nd Century Group Company Profile

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.