Achieve Life Sciences, Inc. (NASDAQ:ACHV) Sees Large Growth in Short Interest

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 totalling 2,980,000 shares, an increase of 9.6% from the July 31st total of 2,720,000 shares. Based on an average daily trading volume, of 240,500 shares, the short-interest ratio is currently 12.4 days.

Institutional Trading of Achieve Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in ACHV. Propel Bio Management LLC bought a new stake in Achieve Life Sciences in the 1st quarter worth about $11,149,000. CVI Holdings LLC purchased a new stake in shares of Achieve Life Sciences during the first quarter valued at approximately $2,578,000. Vanguard Group Inc. lifted its holdings in Achieve Life Sciences by 56.6% during the first 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 during the period. Bank of New York Mellon Corp bought a new stake in Achieve Life Sciences during the second quarter worth $482,000. Finally, Rhumbline Advisers purchased a new position in Achieve Life Sciences in the second quarter worth $197,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Stock Performance

Shares of Achieve Life Sciences stock opened at $4.39 on Monday. Achieve Life Sciences has a 52 week low of $3.03 and a 52 week high of $5.98. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $4.64 and a 200-day moving average price of $4.67. The company has a market cap of $150.76 million, a PE ratio of -3.40 and a beta of 1.54.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter last year, the firm earned ($0.43) earnings per share. Equities analysts anticipate that Achieve Life Sciences will post -1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer reiterated an “outperform” rating and set a $11.00 price objective on shares of Achieve Life Sciences in a report on Thursday, August 15th.

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.