Achieve Life Sciences (NASDAQ:ACHV) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.95 and traded as high as $5.07. Achieve Life Sciences shares last traded at $4.68, with a volume of 1,252,946 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on ACHV. HC Wainwright began coverage on Achieve Life Sciences in a research report on Thursday, August 21st. They set a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Achieve Life Sciences has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Achieve Life Sciences Price Performance

The firm has a market capitalization of $239.15 million, a PE ratio of -3.21 and a beta of 1.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.64 and a quick ratio of 6.64. The firm has a 50-day simple moving average of $3.30 and a 200-day simple moving average of $2.95.

Achieve Life Sciences (NASDAQ:ACHV) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). As a group, equities analysts forecast that Achieve Life Sciences, Inc. will post -1.17 earnings per share for the current year.

Insider Activity

In other news, Director Thomas Braxton King sold 139,858 shares of Achieve Life Sciences stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $2.77, for a total transaction of $387,406.66. Following the transaction, the director directly owned 315,142 shares of the company’s stock, valued at $872,943.34. The trade was a 30.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jaime Xinos sold 20,854 shares of Achieve Life Sciences 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 381,972 shares of company stock worth $1,084,997. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in Achieve Life Sciences in the 1st quarter worth approximately $32,000. Sender Co & Partners Inc. purchased a new position in Achieve Life Sciences in the 2nd quarter worth approximately $56,000. Bank of America Corp DE lifted its holdings in Achieve Life Sciences by 39.9% in the 2nd 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 in the last quarter. XTX Topco Ltd purchased a new position in Achieve Life Sciences in the 1st quarter worth approximately $99,000. Finally, ADAR1 Capital Management LLC lifted its holdings in Achieve Life Sciences by 227.7% in the 1st quarter. ADAR1 Capital Management LLC now owns 43,173 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 30,000 shares in the last quarter. 33.52% of the stock is owned by hedge funds and other institutional investors.

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.