Short Interest in Achieve Life Sciences, Inc. (NASDAQ:ACHV) Decreases By 24.7%

Achieve Life Sciences, Inc. (NASDAQ:ACHV) was the target of a significant decline in short interest in the month of 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 short-interest ratio is presently 13.2 days.

Achieve Life Sciences Stock Up 0.9 %

Achieve Life Sciences stock opened at $3.42 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.78 and a quick ratio of 6.78. Achieve Life Sciences has a 1-year low of $2.84 and a 1-year high of $5.59. The company has a market cap of $117.61 million, a PE ratio of -3.03 and a beta of 1.66. The stock’s 50 day moving average price is $3.52 and its 200 day moving average price is $4.22.

Institutional Trading of Achieve Life Sciences

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company purchased a new stake in Achieve Life Sciences during the second quarter worth $69,000. SG Americas Securities LLC purchased a new stake in Achieve Life Sciences during the third quarter worth $54,000. MetLife Investment Management LLC boosted its position in Achieve Life Sciences by 65.6% during the third quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 5,939 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Achieve Life Sciences during the third quarter worth $113,000. Finally, State Street Corp boosted its position in Achieve Life Sciences by 6.8% during the third quarter. State Street Corp now owns 431,520 shares of the biopharmaceutical company’s stock worth $2,045,000 after purchasing an additional 27,419 shares in the last quarter. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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