News

Fintel reports that on August 15, 2023, Dawson James maintained coverage of 22nd Century Group (NASDAQ:XXII) with a Buy recommendation.

Analyst Price Forecast Suggests 2,127.07% Upside

As of August 2, 2023, the average one-year price target for 22nd Century Group is 51.00. The forecasts range from a low of 10.10 to a high of $78.75. The average price target represents an increase of 2,127.07% from its latest reported closing price of 2.29.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for 22nd Century Group is 104MM, an increase of 23.93%. The projected annual non-GAAP EPS is -0.23.

What is the Fund Sentiment?

There are 185 funds or institutions reporting positions in 22nd Century Group. This is a decrease of 28 owner(s) or 13.15% in the last quarter. Average portfolio weight of all funds dedicated to XXII is 0.01%, a decrease of 45.05%. Total shares owned by institutions decreased in the last three months by 3.36% to 43,722K shares.

The put/call ratio of XXII is 0.18, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,085K shares representing 28.87% ownership of the company. No change in the last quarter.

IWM - iShares Russell 2000 ETF holds 3,755K shares representing 17.81% ownership of the company. No change in the last quarter.

Geode Capital Management holds 3,589K shares representing 17.02% ownership of the company. In it's prior filing, the firm reported owning 3,447K shares, representing an increase of 3.96%. The firm decreased its portfolio allocation in XXII by 19.50% over the last quarter.

VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 3,172K shares representing 15.05% ownership of the company. No change in the last quarter.

Gmt Capital holds 1,652K shares representing 7.84% ownership of the company.

22nd Century Group Background Information
(This description is provided by the company.)

22nd Century is a plant biotechnology company focused on technology which allows it to decrease the level of nicotine in tobacco plants and modify the levels of cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. The Company's primary mission in tobacco is to reduce the harm caused by smoking. The Company's primary mission in hemp/cannabis is to develop proprietary hemp strains for important new medicines and agricultural crops.

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This story originally appeared on Fintel.

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