Cindy Jacobs Sells 27,629 Shares of Achieve Life Sciences (NASDAQ:ACHV) Stock

Achieve Life Sciences, Inc. (NASDAQ:ACHV) CMO Cindy Jacobs sold 27,629 shares of the 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 $76,532.33. Following the transaction, the chief marketing officer owned 115,585 shares in the company, valued at $320,170.45. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Achieve Life Sciences Price Performance

Shares of NASDAQ ACHV opened at $3.12 on Wednesday. The firm has a market cap of $159.43 million, a PE ratio of -2.14 and a beta of 1.53. The firm has a fifty day moving average of $2.66 and a 200 day moving average of $2.77. 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, Inc. has a one year low of $1.84 and a one year high of $5.31.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.37). As a group, research analysts predict that Achieve Life Sciences, Inc. will post -1.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright initiated coverage on Achieve Life Sciences in a research note on Thursday, August 21st. They set a “buy” rating and a $12.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, Achieve Life Sciences currently has an average rating of “Strong Buy” and an average target price of $14.67.

Institutional Investors Weigh In On Achieve Life Sciences

A number of hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in shares of Achieve Life Sciences by 81.3% in the second quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock worth $10,077,000 after buying an additional 2,000,079 shares in the last quarter. Simplify Asset Management Inc. raised its holdings in Achieve Life Sciences by 443.7% in the 2nd quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock valued at $2,677,000 after acquiring an additional 966,667 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Achieve Life Sciences in the 2nd quarter worth approximately $2,652,000. Nantahala Capital Management LLC boosted its holdings in shares of Achieve Life Sciences by 37.4% during the 1st quarter. Nantahala Capital Management LLC now owns 898,885 shares of the biopharmaceutical company’s stock worth $2,400,000 after purchasing an additional 244,885 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Achieve Life Sciences by 11.7% in the fourth quarter. Northern Trust Corp now owns 416,796 shares of the biopharmaceutical company’s stock valued at $1,467,000 after purchasing an additional 43,682 shares in the last quarter. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.