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 stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $2.77, for a total transaction of $38,973.90. Following the completion of the transaction, the insider directly owned 32,694 shares of the company's stock, valued at approximately $90,562.38. The trade was a 30.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Achieve Life Sciences Trading Down 2.5%

NASDAQ ACHV traded down $0.08 during trading on Friday, hitting $3.08. The stock had a trading volume of 990,117 shares, compared to its average volume of 1,541,933. 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 stock has a market capitalization of $157.39 million, a price-to-earnings ratio of -2.11 and a beta of 1.53. Achieve Life Sciences, Inc. has a one year low of $1.84 and a one year high of $5.31. The stock has a 50 day simple moving average of $2.72 and a 200 day simple moving average of $2.78.

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 (EPS) for the quarter, hitting the consensus estimate of ($0.37). Sell-side analysts predict that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in ACHV. Tower Research Capital LLC TRC lifted its stake in shares of 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 buying an additional 4,905 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences during the first quarter worth $32,000. Sender Co & Partners Inc. acquired a new stake in shares of Achieve Life Sciences during the second quarter worth $56,000. Squarepoint Ops LLC acquired a new stake in shares of Achieve Life Sciences during the fourth quarter worth $62,000. Finally, Bank of America Corp DE lifted its stake in shares of Achieve Life Sciences by 39.9% during the second quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company's stock worth $76,000 after buying an additional 9,617 shares during the period. 33.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HC Wainwright assumed coverage on shares of Achieve Life Sciences in a report on Thursday, August 21st. They set a "buy" rating and a $12.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Achieve Life Sciences currently has an average rating of "Strong Buy" and an average target price 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.