Achieve Life Sciences (NASDAQ:ACHV) CMO Sells $76,532.33 in Stock

Key Points

• Achieve Life Sciences CMO Cindy Jacobs sold 27,629 shares at an average price of $2.77, reducing her shareholding by 19.29%.
• HC Wainwright initiated coverage with a "buy" rating and a target price of $12.00, while analysts have an average target price of $14.67.
• The company's stock is currently valued at approximately $149.74 million, with a price-to-earnings ratio of -2.01 and over 33% of shares owned by institutional investors.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) CMO Cindy Jacobs sold 27,629 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $2.77, for a total transaction of $76,532.33. Following the completion of the transaction, the chief marketing officer owned 115,585 shares of the company's stock, valued at approximately $320,170.45. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Achieve Life Sciences Price Performance

NASDAQ:ACHV traded down $0.08 during trading hours on Friday, reaching $3.08. 990,117 shares of the company were exchanged, compared to its average volume of 1,541,933. 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 stock's 50-day moving average is $2.72 and its 200-day moving average is $2.78. The firm has a market cap of $157.39 million, a PE ratio of -2.11 and a beta of 1.53. Achieve Life Sciences, Inc. has a twelve month low of $1.84 and a twelve month high of $5.31.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, meeting analysts' consensus estimates of ($0.37). On average, sell-side analysts anticipate that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright started coverage on shares of Achieve Life Sciences in a research note on Thursday, August 21st. They set a "buy" rating and a $12.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Strong Buy" and an average target price of $14.67.

Institutional Trading of Achieve Life Sciences

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in Achieve Life Sciences by 185.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,545 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 4,905 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Achieve Life Sciences in the first quarter valued at approximately $32,000. Sender Co & Partners Inc. acquired a new stake in Achieve Life Sciences in the second quarter valued at approximately $56,000. Squarepoint Ops LLC acquired a new stake in Achieve Life Sciences in the fourth quarter valued at approximately $62,000. Finally, Bank of America Corp DE raised its holdings in 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 acquiring an additional 9,617 shares in the last quarter. Institutional investors and hedge funds own 33.52% of the company's stock.

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.