Insider Selling: Achieve Life Sciences (NASDAQ:ACHV) Director Sells $175,114.74 in Stock

Key Points

• Achieve Life Sciences director Richard Alistair Stewart sold 20,626 shares at an average price of $8.49, totaling $175,114.74. His remaining stake fell 9.01% to 208,249 shares.
• ACHV shares traded at $7.99, near their 12-month high of $8.61, but the company reported a quarterly loss of $0.80 per share—well below the $0.16 consensus estimate.
• Analyst views remain mixed, though the consensus rating is “Buy” with a $15 target price; institutional investors own 33.52% of the company.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) Director Richard Alistair Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total value of $175,114.74. Following the sale, the director directly owned 208,249 shares of the company's stock, valued at approximately $1,768,034.01. This trade 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 this link.

Achieve Life Sciences Stock Performance

Shares of ACHV traded down $0.03 during midday trading on Friday, reaching $7.99. 1,060,615 shares of the stock were exchanged, compared to its average volume of 1,326,341. Achieve Life Sciences, Inc. has a twelve month low of $2.62 and a twelve month high of $8.61. The stock's 50 day simple moving average is $6.31 and its 200 day simple moving average is $5.03. 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 company has a market cap of $822.17 million, a P/E ratio of -5.15 and a beta of 2.24.

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 (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.64). On average, sell-side analysts expect that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHV. Legal & General Group Plc purchased a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at $49,000. AQR Capital Management LLC purchased a new stake in Achieve Life Sciences in the 1st quarter valued at approximately $32,000. Magnolia Capital Advisors LLC acquired a new position in shares of Achieve Life Sciences during the 4th quarter worth approximately $64,000. Jefferies Financial Group Inc. acquired a new position in Achieve Life Sciences during the 4th quarter worth approximately $84,000. Finally, HRT Financial LP purchased a new stake in shares of Achieve Life Sciences during the fourth quarter worth $93,000. Hedge funds and other institutional investors own 33.52% of the company's stock.

Analyst Upgrades and Downgrades

ACHV has been the subject of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Achieve Life Sciences in a report on Wednesday. Wall Street Zen cut Achieve Life Sciences from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. Raymond James Financial reiterated a "strong-buy" rating and issued a $18.00 price objective on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. HC Wainwright restated a "buy" rating and issued a $12.00 price objective on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Finally, UBS Group reiterated a "buy" rating on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $15.00.

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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