Achieve Life Sciences, Inc. $ACHV Shares Sold by Clearline Capital LP

Clearline Capital LP cut its holdings in Achieve Life Sciences, Inc. (NASDAQ:ACHV) by 66.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,219 shares of the biopharmaceutical company’s stock after selling 875,040 shares during the period. Clearline Capital LP owned about 0.85% of Achieve Life Sciences worth $1,421,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences in the first quarter valued at approximately $32,000. Next Capital Management LLC acquired a new position in shares of Achieve Life Sciences during the 3rd quarter worth approximately $51,000. Sender Co & Partners Inc. purchased a new stake in Achieve Life Sciences in the 2nd quarter valued at approximately $56,000. OneDigital Investment Advisors LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter valued at approximately $63,000. 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 buying an additional 9,617 shares during the last quarter. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Achieve Life Sciences Stock Performance

NASDAQ:ACHV opened at $4.17 on Friday. The company has a market cap of $221.97 million, a P/E ratio of -3.02 and a beta of 1.81. The firm’s 50 day moving average is $4.69 and its two-hundred day moving average is $4.25. Achieve Life Sciences, Inc. has a fifty-two week low of $1.84 and a fifty-two week high of $6.03. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 0.26.

Achieve Life Sciences Profile

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.