Achieve Life Sciences, Inc. (NASDAQ:ACHV – Get Free Report) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 3,810,000 shares, an increase of 30.0% from the December 15th total of 2,930,000 shares. Based on an average daily volume of 153,600 shares, the days-to-cover ratio is presently 24.8 days.
Hedge Funds Weigh In On Achieve Life Sciences
Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in Achieve Life Sciences in the second quarter valued at $482,000. Rhumbline Advisers purchased a new stake in shares of Achieve Life Sciences in the 2nd quarter worth about $197,000. Renaissance Technologies LLC boosted its stake in shares of Achieve Life Sciences by 134.2% during the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 14,360 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at about $69,000. Finally, SG Americas Securities LLC purchased a new position in shares of Achieve Life Sciences during the third quarter valued at about $54,000. 33.52% of the stock is owned by hedge funds and other institutional investors.
Achieve Life Sciences Price Performance
ACHV stock opened at $3.07 on Friday. The stock has a market capitalization of $105.58 million, a price-to-earnings ratio of -2.72 and a beta of 1.66. The firm’s 50-day moving average price is $4.07 and its two-hundred day moving average price is $4.46. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31. Achieve Life Sciences has a 12-month low of $3.07 and a 12-month high of $5.59.
Analyst Upgrades and Downgrades
Several analysts have issued reports on ACHV shares. Rodman & Renshaw began coverage on shares of Achieve Life Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $12.00 price target for the company. RODMAN&RENSHAW raised Achieve Life Sciences to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Raymond James initiated coverage on Achieve Life Sciences in a research report on Friday, September 27th. They set a “strong-buy” rating and a $20.00 price target on the stock. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.80.
Check Out Our Latest Stock Analysis on ACHV
Achieve Life Sciences Company Profile
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.
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