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Richard Stewart, the Chief Executive Officer of Achieve Life Sciences, Inc. (NASDAQ:ACHV), recently acquired 10,000 shares of the company’s common stock. The purchase, which took place on March 17, 2025, was made at a price of $2.8598 per share, totaling $28,598. The timing is notable as the stock is currently trading near its 52-week low of $2.51, with the current price at $2.67. Following this transaction, Stewart’s direct holdings increased to 60,876 shares in the $93 million market cap company.
In addition to his direct ownership, Stewart also holds shares indirectly. His spouse owns 359 shares, and Ricanto Limited, where Stewart is a principal owner, holds 882 shares. These transactions reflect Stewart’s continued investment in Achieve Life Sciences, a company specializing in in vitro and in vivo diagnostic substances. According to InvestingPro, analysts maintain a strong buy consensus with price targets ranging from $10 to $30, though the company’s financial health score currently stands at "Fair." Additional insights and detailed analysis are available in the comprehensive Pro Research Report.
In other recent news, Achieve Life Sciences reported fourth-quarter earnings that did not meet analyst expectations, recording a loss of $0.36 per share compared to the anticipated $0.34 loss. The company reported total operating expenses of $12.2 million and a net loss of $12.4 million for the quarter. Achieve Life Sciences ended the year with $34.4 million in cash, cash equivalents, and marketable securities. Despite the earnings miss, the company plans to submit a new drug application for cytisinicline to the U.S. Food and Drug Administration by the end of the second quarter of 2025. Achieve Life Sciences has completed enrollment in its ORCA-OL long-term exposure trial, meeting the requirement of 300 participants. Positive outcomes were announced from two data safety monitoring committee reviews of the ORCA-OL trial, with no safety concerns identified. Additionally, the company recently appointed two new board members and a new Chief Financial Officer to support its strategic initiatives and potential commercialization efforts.
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