22nd Century Group, Inc. (NASDAQ:XXII – Free Report) – Research analysts at Dawson James cut their Q2 2023 earnings per share estimates for shares of 22nd Century Group in a research report issued to clients and investors on Tuesday, July 25th. Dawson James analyst J. Mcilree now expects that the biotechnology company will post earnings of ($1.05) per share for the quarter, down from their previous forecast of ($1.05). The consensus estimate for 22nd Century Group’s current full-year earnings is ($4.10) per share. Dawson James also issued estimates for 22nd Century Group’s Q3 2023 earnings at ($0.82) EPS, Q4 2023 earnings at ($0.40) EPS, FY2023 earnings at ($3.34) EPS and FY2024 earnings at $0.16 EPS.
22nd Century Group Stock Performance
XXII stock opened at $3.68 on Friday. 22nd Century Group has a twelve month low of $2.19 and a twelve month high of $31.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.81 and a current ratio of 2.44. The business has a fifty day moving average of $6.18 and a 200-day moving average of $10.54.
Institutional Investors Weigh In On 22nd Century Group
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 22nd Century Group by 18.3% during the third quarter. Vanguard Group Inc. now owns 10,457,121 shares of the biotechnology company’s stock worth $9,696,000 after acquiring an additional 1,615,666 shares during the last quarter. BlackRock Inc. increased its holdings in 22nd Century Group by 3.1% in the third quarter. BlackRock Inc. now owns 10,272,783 shares of the biotechnology company’s stock valued at $9,525,000 after purchasing an additional 305,669 shares during the last quarter. Geode Capital Management LLC increased its holdings in 22nd Century Group by 4.1% in the first quarter. Geode Capital Management LLC now owns 3,588,600 shares of the biotechnology company’s stock valued at $2,760,000 after purchasing an additional 142,009 shares during the last quarter. State Street Corp increased its holdings in 22nd Century Group by 2.0% in the first quarter. State Street Corp now owns 3,205,676 shares of the biotechnology company’s stock valued at $7,437,000 after purchasing an additional 62,209 shares during the last quarter. Finally, ETF Managers Group LLC increased its holdings in 22nd Century Group by 59.1% in the fourth quarter. ETF Managers Group LLC now owns 2,537,758 shares of the biotechnology company’s stock valued at $2,336,000 after purchasing an additional 942,659 shares during the last quarter. Institutional investors own 18.60% of the company’s stock.
About 22nd Century Group
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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