Clearline Capital LP Decreases Position in Achieve Life Sciences, Inc. $ACHV

Clearline Capital LP reduced its stake in shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) by 66.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 451,219 shares of the biopharmaceutical company’s stock after selling 875,040 shares during the period. Clearline Capital LP’s holdings in Achieve Life Sciences were worth $1,421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in Achieve Life Sciences in the 1st quarter worth approximately $32,000. Next Capital Management LLC acquired a new position in shares of Achieve Life Sciences during the third quarter worth $51,000. OneDigital Investment Advisors LLC purchased a new position in shares of Achieve Life Sciences in the third quarter valued at $63,000. Sender Co & Partners Inc. purchased a new position in shares of Achieve Life Sciences in the second quarter valued at $56,000. Finally, Bank of America Corp DE grew its holdings in Achieve Life Sciences by 39.9% during the 2nd 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 in the last quarter. 33.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACHV has been the topic of several analyst reports. Citigroup began coverage on shares of Achieve Life Sciences in a research note on Tuesday, November 25th. They set an “outperform” rating on the stock. Citizens Jmp began coverage on Achieve Life Sciences in a research note on Tuesday, November 25th. They set a “market outperform” rating and a $19.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Monday, December 29th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Achieve Life Sciences Stock Performance

Shares of Achieve Life Sciences stock opened at $4.17 on Friday. The firm has a market cap of $221.97 million, a PE ratio of -3.02 and a beta of 1.81. The firm’s 50-day simple moving average is $4.69 and its 200-day simple moving average is $4.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.14 and a current ratio of 5.14. Achieve Life Sciences, Inc. has a 1 year low of $1.84 and a 1 year high of $6.03.

About Achieve Life Sciences

Achieve Life Sciences, Inc (NASDAQ: ACHV) is a clinical-stage biotechnology company dedicated to the development and commercialization of cytisinicline, a plant-derived alkaloid for smoking cessation. The company’s mission is to offer a novel, evidence-based therapy that addresses the global need for effective and well-tolerated smoking cessation options. Achieve focuses its efforts on advancing the clinical profile of cytisinicline through rigorous development programs and regulatory engagement.

Cytisinicline (formerly marketed as Tabex® in Europe) acts as a nicotinic acetylcholine receptor partial agonist, helping reduce withdrawal symptoms and nicotine cravings.