Achieve Life Sciences (NASDAQ:ACHV) Insider Sells $57,765.58 in 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 that occurred on Thursday, September 4th. The shares were sold at an average price of $2.77, for a total value of $57,765.58. Following the completion of the sale, the insider directly owned 74,432 shares in the company, valued at $206,176.64. This trade represents a 21.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Achieve Life Sciences Stock Performance

ACHV traded down $0.08 during midday trading on Friday, reaching $3.08. The company's stock had a trading volume of 990,117 shares, compared to its average volume of 1,541,933. The stock has a market cap of $157.39 million, a P/E ratio of -2.11 and a beta of 1.53. The company has a fifty day simple moving average of $2.72 and a 200 day simple moving average of $2.78. 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 twelve month low of $1.84 and a twelve month 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, hitting the consensus estimate of ($0.37). Research analysts expect that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC grew its stake in shares of Achieve Life Sciences by 12.2% during the fourth quarter. Barclays PLC now owns 53,473 shares of the biopharmaceutical company's stock worth $189,000 after purchasing an additional 5,818 shares during the period. Tower Research Capital LLC TRC grew 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 purchasing an additional 4,905 shares during the period. Northern Trust Corp grew its stake in shares of 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 purchasing an additional 43,682 shares during the period. Bank of America Corp DE grew its stake in shares of Achieve Life Sciences by 37.0% during the fourth quarter. Bank of America Corp DE now owns 36,168 shares of the biopharmaceutical company's stock worth $127,000 after purchasing an additional 9,760 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Achieve Life Sciences during the fourth quarter worth $62,000. Institutional investors own 33.52% of the company's stock.

Analyst Upgrades and Downgrades

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