Insider Selling: Achieve Life Sciences (NASDAQ:ACHV) Director Sells 139,858 Shares of Stock

Key Points

• Thomas Braxton King, a director at Achieve Life Sciences, sold 139,858 shares at an average price of $2.77, decreasing his stake by 30.74% after the transaction.
• Achieve Life Sciences stock saw a 3.5% increase on Monday, with a share price of $2.93, and has a market cap of $149.74 million.
• HC Wainwright issued a buy rating for Achieve Life Sciences with a target price of $12.00, while the average consensus price target stands at $14.67.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) Director Thomas Braxton King sold 139,858 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $2.77, for a total value of $387,406.66. Following the sale, the director owned 315,142 shares of the company's stock, valued at $872,943.34. The trade was a 30.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Achieve Life Sciences Trading Down 2.5%

Shares of NASDAQ:ACHV traded down $0.08 during trading on Friday, reaching $3.08. 990,117 shares of the stock were exchanged, compared to its average volume of 1,541,933. 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, Inc. has a 12-month low of $1.84 and a 12-month high of $5.31. The firm has a market cap of $157.39 million, a price-to-earnings ratio of -2.11 and a beta of 1.53. The firm's 50-day moving average price is $2.72 and its 200 day moving average price is $2.78.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, hitting 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.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP bought a new position in shares of Achieve Life Sciences in the second quarter worth $2,652,000. Sender Co & Partners Inc. purchased a new stake in shares of Achieve Life Sciences during the second quarter valued at $56,000. Shay Capital LLC lifted its holdings in shares of Achieve Life Sciences by 10.1% during 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 purchased a new stake in shares of Achieve Life Sciences during the second quarter valued at $145,000. Finally, Bank of America Corp DE lifted its holdings in shares of Achieve Life Sciences by 39.9% during 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.

Analyst Upgrades and Downgrades

Separately, HC Wainwright began coverage on Achieve Life Sciences in a research report on Thursday, August 21st. They set a "buy" rating and a $12.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat, Achieve Life Sciences currently has an average rating of "Strong Buy" and a consensus target price of $14.67.

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.