Achieve Life Sciences Inc. [NASDAQ: ACHV] slipped around -0.41 points on Thursday, while shares priced at $7.18 at the close of the session, down -5.34%. The company report on December 3, 2020 that Achieve Life Sciences Announces Pricing of $15 Million Public Offering.
Achieve Life Sciences, Inc. (Nasdaq: ACHV), a clinical-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine addiction, announced the pricing of an underwritten public offering of 2,150,000 shares of its common stock at a price to the public of $7.00 per share. The aggregate gross proceeds from this offering are expected to be approximately $15 million, before deducting underwriting discounts and commissions and other offering expenses payable by Achieve. Achieve has also granted the underwriters a 30-day option to purchase up to an additional 322,500 shares of common stock in connection with the public offering. All of the securities are being offered by Achieve. The offering is expected to close on or about December 7, 2020, subject to the satisfaction of customary closing conditions.
Lake Street Capital Markets LLC is acting as the sole bookrunning manager in the offering. Maxim Group LLC is serving as the co-manager.
Achieve Life Sciences Inc. stock is now -32.20% down from its year-to-date (YTD) trading value. ACHV Stock saw the intraday high of $7.45 and lowest of $7.15 per share. The company’s 52-week high price is 28.00, which means current price is +59.17% above from all time high which was touched on 07/31/20.
Compared to the average trading volume of 207.46K shares, ACHV reached a trading volume of 1572643 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Achieve Life Sciences Inc. [ACHV]?
The Average True Range (ATR) for Achieve Life Sciences Inc. is set at 0.72 The Price to Book ratio for the last quarter was 0.92.
How has ACHV stock performed recently?
Achieve Life Sciences Inc. [ACHV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.78. With this latest performance, ACHV shares dropped by -11.19% in over the last four-week period, additionally sinking by -23.87% over the last 6 months – not to mention a drop of -60.52% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ACHV stock in for the last two-week period is set at 34.22, with the RSI for the last a single of trading hit 25.92, and the three-weeks RSI is set at 38.52 for Achieve Life Sciences Inc. [ACHV]. The present Moving Average for the last 50 days of trading for this stock 8.75, while it was recorded at 8.22 for the last single week of trading, and 8.51 for the last 200 days.
Achieve Life Sciences Inc. [ACHV]: Deeper insight into the fundamentals
Return on Total Capital for ACHV is now -96.55, given the latest momentum, and Return on Invested Capital for the company is -96.38. Return on Equity for this stock declined to -96.86, with Return on Assets sitting at -81.64. When it comes to the capital structure of this company, Achieve Life Sciences Inc. [ACHV] has a Total Debt to Total Equity ratio set at 2.01. Additionally, ACHV Total Debt to Total Capital is recorded at 1.97, with Total Debt to Total Assets ending up at 1.72. Long-Term Debt to Equity for the company is recorded at 0.88, with the Long-Term Debt to Total Capital now at 0.86.
Reflecting on the efficiency of the workforce at the company, Achieve Life Sciences Inc. [ACHV] managed to generate an average of -$1,171,071 per employee.Achieve Life Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.00 and a Current Ratio set at 13.00.
Earnings analysis for Achieve Life Sciences Inc. [ACHV]
With the latest financial reports released by the company, Achieve Life Sciences Inc. posted -6/share EPS, while the average EPS was predicted by analysts to be reported at -6.4/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ACHV.
Insider trade positions for Achieve Life Sciences Inc. [ACHV]
There are presently around $3 million, or 14.90% of ACHV stock, in the hands of institutional investors. The top three institutional holders of ACHV stocks are: IKARIAN CAPITAL, LLC with ownership of 284,151, which is approximately 55.336% of the company’s market cap and around 0.49% of the total institutional ownership; REQUISITE CAPITAL MANAGEMENT, LLC, holding 50,000 shares of the stock with an approximate value of $0.36 million in ACHV stocks shares; and BOOTHBAY FUND MANAGEMENT, LLC, currently with $0.24 million in ACHV stock with ownership of nearly New of the company’s market capitalization.
Positions in Achieve Life Sciences Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 9 institutional holders increased their position in Achieve Life Sciences Inc. [NASDAQ:ACHV] by around 199,446 shares. Additionally, 11 investors decreased positions by around 199,317 shares, while 4 investors held positions by with 53,876 shares. The mentioned changes placed institutional holdings at 452,639 shares, according to the latest SEC report filing. ACHV stock had 9 new institutional investments in for a total of 82,004 shares, while 8 institutional investors sold positions of 196,744 shares during the same period.