Achieve Life Sciences (NASDAQ:ACHV) Director Sells 20,626 Shares of Stock

Achieve Life Sciences, Inc. (NASDAQ:ACHV) Director Richard Alistair Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total transaction of $175,114.74. Following the completion of the sale, the director owned 208,249 shares of the company’s stock, valued at $1,768,034.01. This trade represents a 9.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Achieve Life Sciences Price Performance

NASDAQ ACHV traded down $0.03 during trading hours on Friday, reaching $7.99. The company’s stock had a trading volume of 1,060,615 shares, compared to its average volume of 1,326,341. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. Achieve Life Sciences, Inc. has a 1 year low of $2.62 and a 1 year high of $8.61. The firm’s 50-day moving average price is $6.31 and its 200-day moving average price is $5.03. The company has a market capitalization of $822.17 million, a price-to-earnings ratio of -5.15 and a beta of 2.24.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). On average, equities research analysts predict that Achieve Life Sciences, Inc. will post -0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Achieve Life Sciences

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences in the first quarter valued at approximately $32,000. Qube Research & Technologies Ltd purchased a new stake in shares of Achieve Life Sciences during the 2nd quarter worth about $232,000. Raymond James Financial Inc. grew its position in Achieve Life Sciences by 57.1% in the 2nd quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock worth $667,000 after purchasing an additional 107,218 shares during the last quarter. Jane Street Group LLC purchased a new position in Achieve Life Sciences during the second quarter valued at approximately $159,000. Finally, Bank of America Corp DE increased its stake in shares of Achieve Life Sciences by 39.9% in the second quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 9,617 shares in the last quarter. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACHV has been the topic of a number of recent research reports. UBS Group reiterated a “buy” rating on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Wall Street Zen downgraded Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Wednesday. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $18.00 price target on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.00.

About Achieve Life Sciences

Achieve Life Sciences, Inc (NASDAQ: ACHV) is a clinical-stage biotechnology company dedicated to the development and commercialization of cytisinicline, a plant-derived alkaloid for smoking cessation. The company’s mission is to offer a novel, evidence-based therapy that addresses the global need for effective and well-tolerated smoking cessation options. Achieve focuses its efforts on advancing the clinical profile of cytisinicline through rigorous development programs and regulatory engagement.

Cytisinicline (formerly marketed as Tabex® in Europe) acts as a nicotinic acetylcholine receptor partial agonist, helping reduce withdrawal symptoms and nicotine cravings.