Achieve Life Sciences Inc. [NASDAQ: ACHV] loss -15.39% on the last trading session, reaching $7.31 price per share at the time. The company report on May 25, 2021 that Achieve Life Sciences Announces Pricing of $20 Million Underwritten 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 2,857,143 shares of its common stock at a price to the public of $7.00 per share. Achieve has also granted the underwriters a 30-day option to purchase up to an additional 428,571 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 May 27, 2021, subject to the satisfaction of customary closing conditions.
Oppenheimer & Co. Inc. is acting as the sole book-running manager in the offering. Lake Street Capital Markets, LLC is acting as the lead manager.
Achieve Life Sciences Inc. represents 6.13 million in outstanding shares, while the company has a total market value of $45.76 million with the latest information. ACHV stock price has been found in the range of $7.24 to $7.84.
If compared to the average trading volume of 87.58K shares, ACHV reached a trading volume of 1893155 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Achieve Life Sciences Inc. [ACHV]:
The Average True Range (ATR) for Achieve Life Sciences Inc. is set at 0.76 The Price to Book ratio for the last quarter was 1.49, with the Price to Cash per share for the same quarter was set at 4.73.
Trading performance analysis for ACHV stock
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 -27.05. With this latest performance, ACHV shares dropped by -36.43% in over the last four-week period, additionally sinking by -19.49% over the last 6 months – not to mention a drop of -12.96% 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 25.90, with the RSI for the last a single of trading hit 20.30, and the three-weeks RSI is set at 30.57 for Achieve Life Sciences Inc. [ACHV]. The present Moving Average for the last 50 days of trading for this stock 10.66, while it was recorded at 8.84 for the last single week of trading, and 9.90 for the last 200 days.
Achieve Life Sciences Inc. [ACHV]: A deeper dive into fundamental analysis
Achieve Life Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.70 and a Current Ratio set at 8.70.
Achieve Life Sciences Inc. [ACHV]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Achieve Life Sciences Inc. posted -1.68/share EPS, while the average EPS was predicted by analysts to be reported at -2.47/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 32.00%. 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.
An analysis of insider ownership at Achieve Life Sciences Inc. [ACHV]
There are presently around $6 million, or 24.90% of ACHV stock, in the hands of institutional investors. The top three institutional holders of ACHV stocks are: VANGUARD GROUP INC with ownership of 295,949, which is approximately 987.728% of the company’s market cap and around 0.45% of the total institutional ownership; IKARIAN CAPITAL, LLC, holding 284,151 shares of the stock with an approximate value of $2.08 million in ACHV stocks shares; and MORGAN STANLEY, currently with $0.64 million in ACHV stock with ownership of nearly 8754500% of the company’s market capitalization.
9 institutional holders increased their position in Achieve Life Sciences Inc. [NASDAQ:ACHV] by around 485,389 shares. Additionally, 10 investors decreased positions by around 106,613 shares, while 3 investors held positions by with 279,827 shares. The mentioned changes placed institutional holdings at 871,829 shares, according to the latest SEC report filing. ACHV stock had 6 new institutional investments in for a total of 128,107 shares, while 8 institutional investors sold positions of 106,355 shares during the same period.