Bank of New York Mellon Corp Buys Shares of 218,126 Achieve Life Sciences, Inc. $ACHV

Bank of New York Mellon Corp bought a new position in Achieve Life Sciences, Inc. (NASDAQ:ACHV - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 218,126 shares of the biopharmaceutical company's stock, valued at approximately $1,424,000. Bank of New York Mellon Corp owned about 0.21% of Achieve Life Sciences as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ACHV. AQR Capital Management LLC purchased a new position in Achieve Life Sciences during the first quarter worth about $32,000. Qube Research & Technologies Ltd acquired a new stake in shares of Achieve Life Sciences during the 2nd quarter worth approximately $232,000. Raymond James Financial Inc. raised its position in shares of Achieve Life Sciences by 57.1% during the 2nd quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company's stock valued at $667,000 after buying an additional 107,218 shares during the period. Jane Street Group LLC purchased a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at approximately $159,000. Finally, Bank of America Corp DE lifted 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 during the last quarter. Hedge funds and other institutional investors own 33.52% of the company's stock.

Achieve Life Sciences Stock Down 3.8%

Shares of NASDAQ ACHV opened at $7.54 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The business's 50 day moving average is $7.02 and its two-hundred day moving average is $5.42. Achieve Life Sciences, Inc. has a 52-week low of $2.62 and a 52-week high of $8.64. The firm has a market cap of $775.87 million, a price-to-earnings ratio of -4.86 and a beta of 2.25.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.64). Research analysts predict that Achieve Life Sciences, Inc. will post -0.91 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. Wall Street Zen lowered Achieve Life Sciences from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. Morgan Stanley assumed coverage on Achieve Life Sciences in a report on Thursday, August 13th. They set an "overweight" rating and a $13.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $12.00 price objective on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Finally, UBS Group restated a "buy" rating on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Achieve Life Sciences presently has an average rating of "Buy" and an average target price of $15.00.

Insider Transactions at Achieve Life Sciences

In other news, Director Richard Stewart sold 20,626 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total transaction of $175,114.74. Following the sale, the director owned 208,249 shares of the company's stock, valued at approximately $1,768,034.01. This represents a 9.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc NASDAQ: ACHV is a clinical-stage biotechnology company dedicated to the development and commercialization of cytisinicline, a plant-derived alkaloid for smoking cessation. The company’s mission is to offer a novel, evidence-based therapy that addresses the global need for effective and well-tolerated smoking cessation options. Achieve focuses its efforts on advancing the clinical profile of cytisinicline through rigorous development programs and regulatory engagement.

Cytisinicline (formerly marketed as Tabex® in Europe) acts as a nicotinic acetylcholine receptor partial agonist, helping reduce withdrawal symptoms and nicotine cravings.

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