Insider Selling: Achieve Life Sciences (NASDAQ:ACHV) Insider Sells 14,070 Shares of Stock

Key Points

• Insider Jerry Wan sold 14,070 shares of Achieve Life Sciences at an average price of $2.77, a transaction that decreased his stock position by 30.09%.
• Achieve Life Sciences' stock price rose by 3.5% to reach $2.93 with a market capitalization of $149.74 million.
• Analysts have a consensus rating of "Strong Buy" for the company, with an average price target of $14.67.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) insider Jerry Wan sold 14,070 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $2.77, for a total value of $38,973.90. Following the completion of the transaction, the insider owned 32,694 shares of the company's stock, valued at $90,562.38. The trade was a 30.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Achieve Life Sciences Stock Up 3.5%

Shares of NASDAQ ACHV traded up $0.10 during mid-day trading on Monday, hitting $2.93. The company had a trading volume of 835,328 shares, compared to its average volume of 624,240. The company has a market capitalization of $149.74 million, a PE ratio of -2.01 and a beta of 1.53. The firm has a 50-day simple moving average of $2.63 and a two-hundred day simple moving average of $2.77. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.21. Achieve Life Sciences, Inc. has a one year low of $1.84 and a one year high of $5.31.

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

Institutional Investors Weigh In On Achieve Life Sciences

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in Achieve Life Sciences by 185.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,545 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 4,905 shares during the last quarter. Northern Trust Corp lifted its position in Achieve Life Sciences by 11.7% during the fourth 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 during the last quarter. Nantahala Capital Management LLC lifted its position in Achieve Life Sciences by 37.4% during the first quarter. Nantahala Capital Management LLC now owns 898,885 shares of the biopharmaceutical company's stock worth $2,400,000 after acquiring an additional 244,885 shares during the last quarter. Bank of America Corp DE raised its position in shares of Achieve Life Sciences by 37.0% in the fourth quarter. Bank of America Corp DE now owns 36,168 shares of the biopharmaceutical company's stock valued at $127,000 after buying an additional 9,760 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Achieve Life Sciences in the fourth quarter valued at approximately $62,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright initiated coverage on Achieve Life Sciences in a report on Thursday, August 21st. They issued a "buy" rating and a $12.00 price objective for the company. Two 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, the company currently has a consensus rating of "Strong Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.