Achieve Life Sciences (NASDAQ:ACHV) Director Thomas Braxton King Sells 139,858 Shares

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 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 transaction of $387,406.66. Following the completion of the transaction, the director directly owned 315,142 shares of the company's stock, valued at $872,943.34. This represents a 30.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Achieve Life Sciences Stock Up 3.5%

NASDAQ ACHV traded up $0.10 on Monday, hitting $2.93. 835,328 shares of the stock were exchanged, compared to its average volume of 624,240. The company has a market cap of $149.74 million, a PE ratio of -2.01 and a beta of 1.53. The company has a 50-day moving average price of $2.63 and a 200-day moving average price of $2.77. Achieve Life Sciences, Inc. has a fifty-two week low of $1.84 and a fifty-two week high of $5.31. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.21.

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

Hedge Funds Weigh In On Achieve Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC raised its stake in Achieve Life Sciences by 12.2% during the fourth quarter. Barclays PLC now owns 53,473 shares of the biopharmaceutical company's stock worth $189,000 after purchasing an additional 5,818 shares during the period. Tower Research Capital LLC TRC grew its holdings in Achieve Life Sciences by 185.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,545 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 4,905 shares in the last quarter. Northern Trust Corp grew its holdings in Achieve Life Sciences by 11.7% during the 4th quarter. Northern Trust Corp now owns 416,796 shares of the biopharmaceutical company's stock worth $1,467,000 after acquiring an additional 43,682 shares in the last quarter. Bank of America Corp DE grew its holdings in Achieve Life Sciences by 37.0% during the 4th quarter. Bank of America Corp DE now owns 36,168 shares of the biopharmaceutical company's stock worth $127,000 after acquiring an additional 9,760 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Achieve Life Sciences in the 4th quarter worth about $62,000. Hedge funds and other institutional investors own 33.52% of the company's stock.

Wall Street Analysts Forecast Growth

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

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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