Achieve Life Sciences (NASDAQ:ACHV) CEO Sells $378,142.92 in Stock

Key Points

• Achieve Life Sciences CEO Richard Alistair Stewart sold 129,501 shares of stock for $378,142.92, reducing his stake by 36.14% to 228,875 shares valued at $668,315.
• The company reported an EPS of ($0.37) for the last quarter, matching analyst expectations, with a forecast of -$1.17 EPS for the current fiscal year.
• Wall Street analysts rate Achieve Life Sciences with a consensus of "Strong Buy" and an average target price of $14.67.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) CEO Richard Alistair Stewart sold 129,501 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $2.92, for a total transaction of $378,142.92. Following the transaction, the chief executive officer directly owned 228,875 shares of the company's stock, valued at $668,315. This trade represents a 36.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Achieve Life Sciences Price Performance

Shares of ACHV traded up $0.13 during midday trading on Monday, hitting $2.95. 631,401 shares of the company traded hands, compared to its average volume of 648,882. The firm has a 50 day moving average of $2.79 and a 200-day moving average of $2.77. Achieve Life Sciences, Inc. has a 52 week low of $1.84 and a 52 week high of $5.31. The stock has a market cap of $150.75 million, a price-to-earnings ratio of -2.02 and a beta of 1.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.64 and a current ratio of 6.64.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, meeting the consensus estimate of ($0.37). On average, analysts forecast that Achieve Life Sciences, Inc. will post -1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright assumed coverage on Achieve Life Sciences in a research note on Thursday, August 21st. They issued a "buy" rating and a $12.00 price objective 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. Based on data from MarketBeat.com, Achieve Life Sciences currently has a consensus rating of "Strong Buy" and an average target price of $14.67.

Institutional Trading of Achieve Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHV. Northern Trust Corp raised its position in Achieve Life Sciences by 11.7% in the 4th quarter. Northern Trust Corp now owns 416,796 shares of the biopharmaceutical company's stock worth $1,467,000 after purchasing an additional 43,682 shares during the period. Bank of America Corp DE raised its stake in shares of Achieve Life Sciences by 37.0% during the fourth quarter. Bank of America Corp DE now owns 36,168 shares of the biopharmaceutical company's stock valued at $127,000 after acquiring an additional 9,760 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Achieve Life Sciences during the fourth quarter valued at approximately $62,000. XTX Topco Ltd bought a new stake in shares of Achieve Life Sciences during the first quarter valued at approximately $99,000. Finally, Invesco Ltd. raised its stake in shares of Achieve Life Sciences by 338.7% during the first quarter. Invesco Ltd. now owns 73,644 shares of the biopharmaceutical company's stock valued at $197,000 after acquiring an additional 56,856 shares in the last quarter. 33.52% of the stock is owned by hedge funds and other institutional investors.

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.

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