In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), 22Nd Century Group Inc. (NYSEMKT:XXII) reported that Pandolfino Joseph has picked up 4,743,035 of common stock as of 2017-07-28.
The acquisition brings the aggregate amount owned by Pandolfino Joseph to a total of 4,743,035 representing a 4.91% in the company.
For those not familiar with the company, 22nd Century Group, Inc. is a plant biotechnology company. The Company is focused on technology that allows increasing or decreasing the level of nicotine and other nicotinic alkaloids in tobacco plants, and levels of cannabinoids in cannabis plants through genetic engineering and plant breeding. It is engaged in various activities, including research and development of less harmful or modified risk tobacco products and tobacco plant varieties; development of X-22, a smoking cessation aid consisting of very low nicotine (VLN) cigarettes; manufacture, marketing and distribution of its RED SUN and MAGIC cigarettes; production of SPECTRUM research cigarettes for the National Institute on Drug Abuse (NIDA); contract manufacturing of third-party branded tobacco products, and research and development of plant varieties of hemp/cannabis, such as plants with low to no amounts of delta-9-tetrahydrocannabinol (THC), plants with high levels of cannabidiol (CBD), and other non-THC cannabinoids.
A glance at 22Nd Century Group Inc. (NYSEMKT:XXII)’s key stats reveals a current market capitalization of 149.07M based on 90.90M shares outstanding and a price at last close of $1.64 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2016-03-29, Brodfuehrer picked up 12,500 at a purchase price of $0.77 per share. This brings their total holding to 262,500 as of the date of the filing.
On the sell side, the most recent transaction saw Moynihan unload 20,468 shares at a sale price of $2.00. This brings their total holding to 946,752.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on 22Nd Century Group Inc. (NYSEMKT:XXII) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.