Achieve Life Sciences, Inc. (NASDAQ:ACHV) Short Interest Down 24.7% in January

Achieve Life Sciences, Inc. (NASDAQ:ACHV) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,900,000 shares, a drop of 24.7% from the January 15th total of 3,850,000 shares. Based on an average trading volume of 219,900 shares, the short-interest ratio is presently 13.2 days.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ACHV shares. Rodman & Renshaw assumed coverage on shares of Achieve Life Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $12.00 target price for the company. RODMAN&RENSHAW upgraded shares of Achieve Life Sciences to a “strong-buy” rating in a report on Thursday, November 14th. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $14.80.

Achieve Life Sciences Stock Up 0.9 %

Achieve Life Sciences stock opened at $3.42 on Friday. The stock has a fifty day moving average price of $3.52 and a 200 day moving average price of $4.22. Achieve Life Sciences has a 52 week low of $2.84 and a 52 week high of $5.59. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in Achieve Life Sciences by 185.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,545 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 4,905 shares during the period. Wells Fargo & Company MN grew its stake in shares of Achieve Life Sciences by 7.2% during the 4th quarter. Wells Fargo & Company MN now owns 74,933 shares of the biopharmaceutical company’s stock valued at $264,000 after buying an additional 5,059 shares during the period. LPL Financial LLC grew its stake in shares of Achieve Life Sciences by 2.9% during the 4th quarter. LPL Financial LLC now owns 196,833 shares of the biopharmaceutical company’s stock valued at $693,000 after buying an additional 5,500 shares during the period. Barclays PLC increased its holdings in shares of Achieve Life Sciences by 12.2% during the 4th quarter. Barclays PLC now owns 53,473 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 5,818 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Achieve Life Sciences by 65.6% in the 3rd quarter. MetLife Investment Management LLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 5,939 shares during the period. Institutional investors and hedge funds own 33.52% of the company’s stock.

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.