Achieve Life Sciences, Inc. (NASDAQ:ACHV) Sees Significant Drop in Short Interest

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 2,900,000 shares, a decrease 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.

Institutional Investors Weigh In On Achieve Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in Achieve Life Sciences by 185.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,545 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 4,905 shares during the period. Sigma Planning Corp acquired a new stake in shares of Achieve Life Sciences during the fourth quarter valued at about $37,000. ADAR1 Capital Management LLC grew its stake in shares of Achieve Life Sciences by 14,375.8% during the fourth quarter. ADAR1 Capital Management LLC now owns 13,173 shares of the biopharmaceutical company's stock valued at $46,000 after acquiring an additional 13,082 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Achieve Life Sciences during the fourth quarter worth about $49,000. Finally, SG Americas Securities LLC acquired a new position in shares of Achieve Life Sciences in the third quarter worth about $54,000. Hedge funds and other institutional investors own 33.52% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ACHV shares. RODMAN&RENSHAW raised Achieve Life Sciences to a "strong-buy" rating in a research report on Thursday, November 14th. Rodman & Renshaw began coverage on Achieve Life Sciences in a report on Thursday, November 14th. They issued a "buy" rating and a $12.00 price objective 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. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $14.80.

Achieve Life Sciences Stock Up 0.9 %

Achieve Life Sciences stock traded up $0.03 during trading on Monday, reaching $3.42. 126,161 shares of the company's stock were exchanged, compared to its average volume of 255,653. Achieve Life Sciences has a 52-week low of $2.84 and a 52-week high of $5.59. The firm has a market cap of $117.61 million, a price-to-earnings ratio of -3.03 and a beta of 1.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.78 and a current ratio of 6.78. The company's 50-day moving average is $3.49 and its two-hundred day moving average is $4.20.

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.