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

Achieve Life Sciences, Inc. (NASDAQ:ACHV) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totaling 3,980,000 shares, an increase of 42.7% from the July 31st total of 2,790,000 shares. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is currently 3.7 days. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Ratings Changes

Separately, HC Wainwright began coverage on shares of Achieve Life Sciences in a research note on Thursday, August 21st. They issued a “buy” rating and a $12.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, Achieve Life Sciences presently has an average rating of “Strong Buy” and a consensus price target of $14.67.

Insider Activity at Achieve Life Sciences

In related news, insider Jaime Xinos sold 20,854 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $2.77, for a total value of $57,765.58. Following the sale, the insider owned 74,432 shares of the company’s stock, valued at $206,176.64. The trade was a 21.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Braxton King sold 139,858 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $2.77, for a total transaction of $387,406.66. Following the completion of the sale, the director directly owned 315,142 shares in the company, valued at approximately $872,943.34. This represents a 30.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,411 shares of company stock worth $560,678. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Achieve Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP acquired a new position in shares of Achieve Life Sciences during the second quarter valued at about $2,652,000. Sender Co & Partners Inc. acquired a new position in shares of Achieve Life Sciences during the second quarter valued at about $56,000. Shay Capital LLC raised its holdings in shares of Achieve Life Sciences by 10.1% during the second quarter. Shay Capital LLC now owns 292,647 shares of the biopharmaceutical company’s stock valued at $661,000 after purchasing an additional 26,913 shares during the period. Brevan Howard Capital Management LP acquired a new position in shares of Achieve Life Sciences during the second quarter valued at about $145,000. Finally, Bank of America Corp DE raised its holdings in shares of Achieve Life Sciences by 39.9% during the second quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 9,617 shares during the period. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Price Performance

ACHV stock opened at $3.12 on Wednesday. The firm has a market cap of $159.43 million, a price-to-earnings ratio of -2.14 and a beta of 1.53. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.21. Achieve Life Sciences has a 12-month low of $1.84 and a 12-month high of $5.31. The company’s fifty day simple moving average is $2.66 and its 200 day simple moving average is $2.77.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.37). On average, analysts expect that Achieve Life Sciences will post -1.17 earnings per share for the current 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.