Insider Selling: Achieve Life Sciences (NASDAQ:ACHV) Insider Sells 20,854 Shares of Stock

Key Points

• Insider Jaime Xinos sold 20,854 shares of Achieve Life Sciences (NASDAQ:ACHV) at an average price of $2.77, decreasing their position by 21.89%.
• The company's stock experienced a 3.5% increase, reaching $2.93, with a market capitalization of $149.74 million.
• Analysts currently have a consensus rating of “Strong Buy” for Achieve Life Sciences, with an average price target of $14.67.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) insider Jaime Xinos sold 20,854 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 $57,765.58. Following the sale, the insider directly owned 74,432 shares in the company, valued at approximately $206,176.64. The trade was a 21.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Achieve Life Sciences Stock Up 3.5%

ACHV stock traded up $0.10 during trading on Monday, reaching $2.93. 835,328 shares of the company traded hands, compared to its average volume of 624,240. Achieve Life Sciences, Inc. has a 12 month low of $1.84 and a 12 month high of $5.31. The business has a 50 day simple moving average of $2.63 and a 200 day simple moving average of $2.77. The company has a market capitalization of $149.74 million, a price-to-earnings ratio of -2.01 and a beta of 1.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.64 and a current ratio of 6.64.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Achieve Life Sciences by 185.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,545 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 4,905 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Achieve Life Sciences in the first quarter worth about $32,000. Sender Co & Partners Inc. purchased a new position in shares of Achieve Life Sciences in the second quarter worth about $56,000. Squarepoint Ops LLC purchased a new position in shares of Achieve Life Sciences in the fourth quarter worth about $62,000. Finally, Bank of America Corp DE raised its stake in shares of 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 worth $76,000 after purchasing an additional 9,617 shares during the last quarter. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright began coverage on Achieve Life Sciences in a research note on Thursday, August 21st. They issued a "buy" rating and a $12.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, Achieve Life Sciences 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.

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