Thomas Braxton King Sells 139,858 Shares of Achieve Life Sciences (NASDAQ:ACHV) Stock

Achieve Life Sciences, Inc. (NASDAQ:ACHV) Director Thomas Braxton King sold 139,858 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $2.77, for a total value of $387,406.66. Following the completion of the transaction, the director owned 315,142 shares of the company’s stock, valued at $872,943.34. This represents a 30.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Achieve Life Sciences Price Performance

Achieve Life Sciences stock opened at $3.12 on Wednesday. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $159.43 million, a PE ratio of -2.14 and a beta of 1.53. Achieve Life Sciences, Inc. has a 12 month low of $1.84 and a 12 month high of $5.31. The stock has a 50-day moving average price of $2.66 and a two-hundred day moving average price of $2.77.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, meeting the consensus estimate of ($0.37). Analysts expect that Achieve Life Sciences, Inc. will post -1.17 EPS for the current year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of hedge funds have recently made changes to their positions in ACHV. Franklin Resources Inc. raised its position in shares of Achieve Life Sciences by 81.3% during the second quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock worth $10,077,000 after acquiring an additional 2,000,079 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Achieve Life Sciences during the second quarter worth about $2,652,000. Simplify Asset Management Inc. raised its position in shares of Achieve Life Sciences by 443.7% during the second quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock worth $2,677,000 after acquiring an additional 966,667 shares during the last quarter. Stonepine Capital Management LLC bought a new position in shares of Achieve Life Sciences during the second quarter worth about $753,000. Finally, Nantahala Capital Management LLC raised its position in shares of Achieve Life Sciences by 37.4% during the first quarter. Nantahala Capital Management LLC now owns 898,885 shares of the biopharmaceutical company’s stock worth $2,400,000 after acquiring an additional 244,885 shares during the last quarter. 33.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright assumed coverage on Achieve Life Sciences in a research report on Thursday, August 21st. They issued a “buy” rating and a $12.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Strong Buy” and an average target price of $14.67.

About Achieve Life Sciences

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.