Achieve Life Sciences, Inc. (NASDAQ:ACHV) Short Interest Update

Achieve Life Sciences, Inc. (NASDAQ:ACHV) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 2,900,000 shares, a decline of 24.7% from the January 15th total of 3,850,000 shares. Based on an average daily volume of 219,900 shares, the days-to-cover ratio is currently 13.2 days.

Achieve Life Sciences Price Performance

Shares of NASDAQ:ACHV opened at $3.39 on Friday. Achieve Life Sciences has a twelve month low of $2.84 and a twelve month high of $5.59. The stock’s 50 day moving average is $3.54 and its 200-day moving average is $4.23. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $116.58 million, a price-to-earnings ratio of -3.00 and a beta of 1.66.

Institutional Trading of Achieve Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of ACHV. Sigma Planning Corp acquired a new position in shares of Achieve Life Sciences during the fourth quarter valued at about $37,000. ADAR1 Capital Management LLC lifted its holdings in shares of Achieve Life Sciences by 14,375.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 13,173 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 13,082 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Achieve Life Sciences during the 4th quarter valued at $49,000. SG Americas Securities LLC purchased a new position in Achieve Life Sciences during the third quarter worth about $54,000. Finally, Intech Investment Management LLC bought a new stake in Achieve Life Sciences in the 4th quarter worth about $58,000. Institutional investors own 33.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. RODMAN&RENSHAW upgraded Achieve Life Sciences to a “strong-buy” rating in a report on Thursday, November 14th. Rodman & Renshaw started coverage on shares of Achieve Life Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $12.00 target price on the stock. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Achieve Life Sciences currently has a consensus rating of “Buy” and an average price target of $14.80.

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.