Achieve Life Sciences, Inc. $ACHV Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) by 81.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,952 shares of the biopharmaceutical company’s stock after selling 124,508 shares during the period. Renaissance Technologies LLC’s holdings in Achieve Life Sciences were worth $82,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AQR Capital Management LLC bought a new position in Achieve Life Sciences in the first quarter worth about $32,000. Qube Research & Technologies Ltd bought a new position in shares of Achieve Life Sciences during the second quarter valued at approximately $232,000. Raymond James Financial Inc. grew its holdings in shares of Achieve Life Sciences by 57.1% during the second quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock valued at $667,000 after purchasing an additional 107,218 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Achieve Life Sciences during the 2nd quarter worth approximately $159,000. Finally, Bank of America Corp DE raised its position in shares of 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 worth $76,000 after purchasing an additional 9,617 shares during the period. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Stock Performance

Shares of NASDAQ ACHV opened at $8.02 on Friday. Achieve Life Sciences, Inc. has a 12-month low of $2.60 and a 12-month high of $8.61. The company has a market cap of $825.26 million, a PE ratio of -5.17 and a beta of 2.24. The stock has a 50 day simple moving average of $6.31 and a 200-day simple moving average of $5.03. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.64). On average, equities research analysts forecast that Achieve Life Sciences, Inc. will post -0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

ACHV has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Raymond James Financial reiterated a “strong-buy” rating and issued a $18.00 target price on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Finally, Morgan Stanley started coverage on shares of Achieve Life Sciences in a report on Thursday, August 13th. They issued an “overweight” rating and a $13.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.00.

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.