Achieve Life Sciences (NASDAQ:ACHV) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Achieve Life Sciences' share price has surpassed its 200-day moving average of $2.78, reaching as high as $3.12 before settling at $3.08 with a trading volume of 463,607 shares.
• HC Wainwright initiated coverage with a "buy" rating and a price target of $12.00, contributing to a consensus rating of "Strong Buy" among analysts.
• Insider trading activity has seen significant sales, with insiders selling 202,411 shares valued at $560,678 over the last quarter, indicating potential concerns among company leadership.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.78 and traded as high as $3.12. Achieve Life Sciences shares last traded at $3.08, with a volume of 463,607 shares.

Analyst Ratings Changes

Separately, HC Wainwright assumed coverage on Achieve Life Sciences in a report on Thursday, August 21st. They issued a "buy" rating and a $12.00 price target on the stock. Two research 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.com, Achieve Life Sciences has a consensus rating of "Strong Buy" and an average price target of $14.67.

Achieve Life Sciences Stock Performance

The firm's 50 day simple moving average is $2.79 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. The company has a market capitalization of $144.87 million, a price-to-earnings ratio of -1.94 and a beta of 1.53.

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

Insider Activity at Achieve Life Sciences

In other news, insider Jerry Wan sold 14,070 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 $38,973.90. Following the transaction, the insider directly owned 32,694 shares in the company, valued at $90,562.38. The trade was a 30.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jaime Xinos sold 20,854 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 $57,765.58. Following the transaction, the insider owned 74,432 shares in the company, valued at approximately $206,176.64. This represents a 21.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,411 shares of company stock valued at $560,678. Insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Achieve Life Sciences

A number of large investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP bought a new stake in Achieve Life Sciences in the second quarter worth $2,652,000. Sender Co & Partners Inc. acquired a new position in Achieve Life Sciences during the 2nd quarter worth $56,000. Shay Capital LLC lifted its position in Achieve Life Sciences by 10.1% during the 2nd quarter. Shay Capital LLC now owns 292,647 shares of the biopharmaceutical company's stock worth $661,000 after acquiring an additional 26,913 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in Achieve Life Sciences during the 2nd quarter worth $145,000. Finally, Bank of America Corp DE lifted its position in Achieve Life Sciences by 39.9% during the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company's stock worth $76,000 after acquiring 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.