Achieve Life Sciences (NASDAQ:ACHV) CMO Cindy Jacobs Sells 27,629 Shares

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 firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $2.77, for a total value of $76,532.33. Following the completion of the sale, the chief marketing officer directly owned 115,585 shares in the company, valued at $320,170.45. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Achieve Life Sciences Stock Performance

Shares of NASDAQ:ACHV traded up $0.10 during trading on Monday, hitting $2.93. 835,328 shares of the stock were exchanged, compared to its average volume of 624,240. Achieve Life Sciences, Inc. has a 1-year low of $1.84 and a 1-year high of $5.31. The company has a market capitalization of $149.74 million, a price-to-earnings ratio of -2.01 and a beta of 1.53. The company's fifty day simple moving average is $2.63 and its 200-day simple moving average is $2.77. 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 announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, hitting the consensus estimate of ($0.37). Sell-side analysts expect that Achieve Life Sciences, Inc. will post -1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright started coverage on Achieve Life Sciences in a report on Thursday, August 21st. They set a "buy" rating and a $12.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, Achieve Life Sciences presently has an average rating of "Strong Buy" and a consensus target price of $14.67.

Institutional Trading of Achieve Life Sciences

A number of institutional investors have recently modified their holdings of the company. Hudson Bay Capital Management LP bought a new stake in Achieve Life Sciences during the second quarter worth about $2,652,000. Sender Co & Partners Inc. bought a new stake in Achieve Life Sciences in the second quarter valued at approximately $56,000. Shay Capital LLC grew its position in shares of Achieve Life Sciences by 10.1% in the second quarter. Shay Capital LLC now owns 292,647 shares of the biopharmaceutical company's stock valued at $661,000 after purchasing an additional 26,913 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Achieve Life Sciences in the second quarter valued at approximately $145,000. Finally, Bank of America Corp DE grew its position 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 purchasing an additional 9,617 shares during the last quarter. 33.52% of the stock is currently owned by institutional investors.

Achieve Life Sciences Company Profile

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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