CVI Holdings LLC lowered its position in Achieve Life Sciences, Inc. (NASDAQ:ACHV – Free Report) by 87.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,749 shares of the biopharmaceutical company’s stock after selling 495,443 shares during the period. CVI Holdings LLC owned approximately 0.21% of Achieve Life Sciences worth $337,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of ACHV. Virtu Financial LLC purchased a new stake in Achieve Life Sciences during the 1st quarter worth approximately $59,000. The Manufacturers Life Insurance Company purchased a new stake in Achieve Life Sciences during the 2nd quarter worth approximately $69,000. Renaissance Technologies LLC grew its position in Achieve Life Sciences by 134.2% during the 2nd quarter. Renaissance Technologies LLC now owns 25,060 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 14,360 shares during the last quarter. Rhumbline Advisers purchased a new stake in Achieve Life Sciences during the 2nd quarter worth approximately $197,000. Finally, Bank of New York Mellon Corp purchased a new stake in Achieve Life Sciences during the 2nd quarter worth approximately $482,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.
Achieve Life Sciences Stock Performance
Shares of NASDAQ ACHV opened at $4.77 on Friday. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.21. Achieve Life Sciences, Inc. has a 12 month low of $3.03 and a 12 month high of $5.98. The company has a 50 day simple moving average of $4.52 and a two-hundred day simple moving average of $4.68. The stock has a market cap of $163.80 million, a price-to-earnings ratio of -3.70 and a beta of 1.56.
Analyst Ratings Changes
Several analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $11.00 target price on shares of Achieve Life Sciences in a research report on Thursday, August 15th. Raymond James assumed coverage on shares of Achieve Life Sciences in a research report on Friday. They set a “strong-buy” rating and a $20.00 target price on the stock.
Read Our Latest Report on Achieve Life Sciences
Achieve Life Sciences Company Profile
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.
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