Short Interest in Achieve Life Sciences, Inc. (NASDAQ:ACHV) Expands By 26.5%

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 949,700 shares, an increase of 26.5% from the May 15th total of 750,500 shares. Based on an average trading volume of 116,100 shares, the short-interest ratio is currently 8.2 days.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Lake Street Capital cut their target price on Achieve Life Sciences from $19.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, March 5th. Jonestrading initiated coverage on shares of Achieve Life Sciences in a research report on Wednesday, April 17th. They issued a "buy" rating and a $20.00 target price for the company. Finally, Oppenheimer reduced their price objective on shares of Achieve Life Sciences from $18.00 to $11.00 and set an "outperform" rating for the company in a research note on Monday, May 13th.

Institutional Trading of Achieve Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of ACHV. Raymond James & Associates increased its position in shares of Achieve Life Sciences by 6.0% in the fourth quarter. Raymond James & Associates now owns 154,829 shares of the biopharmaceutical company's stock worth $638,000 after purchasing an additional 8,729 shares during the period. Madison Park Capital Advisors LLC acquired a new position in shares of Achieve Life Sciences in the 4th quarter valued at approximately $41,000. CVI Holdings LLC bought a new stake in shares of Achieve Life Sciences during the 1st quarter worth approximately $2,578,000. Vanguard Group Inc. boosted its position in shares of Achieve Life Sciences by 56.6% during the 1st quarter. Vanguard Group Inc. now owns 948,441 shares of the biopharmaceutical company's stock worth $4,311,000 after acquiring an additional 342,731 shares in the last quarter. Finally, Propel Bio Management LLC bought a new position in Achieve Life Sciences in the first quarter valued at approximately $11,149,000. Institutional investors and hedge funds own 33.52% of the company's stock.

Achieve Life Sciences Stock Down 3.7 %

Shares of ACHV stock traded down $0.19 on Friday, reaching $4.90. The stock had a trading volume of 309,837 shares, compared to its average volume of 130,939. The firm's 50-day moving average is $4.87 and its two-hundred day moving average is $4.59. The firm has a market capitalization of $168.27 million, a price-to-earnings ratio of -3.80 and a beta of 1.34. Achieve Life Sciences has a 12 month low of $3.03 and a 12 month high of $6.25.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.02). On average, sell-side analysts forecast that Achieve Life Sciences will post -1.04 earnings per share for the current fiscal year.

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.