Spruce Street Capital LP Acquires Shares of 736,637 Achieve Life Sciences, Inc. $ACHV

Spruce Street Capital LP acquired a new stake in Achieve Life Sciences, Inc. (NASDAQ:ACHV) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 736,637 shares of the biopharmaceutical company’s stock, valued at approximately $4,810,240,000. Achieve Life Sciences accounts for 0.9% of Spruce Street Capital LP’s portfolio, making the stock its 25th largest holding.

A number of other hedge funds also recently modified their holdings of ACHV. AQR Capital Management LLC bought a new stake in shares of Achieve Life Sciences during the 1st quarter worth about $32,000. Magnolia Capital Advisors LLC bought a new position in Achieve Life Sciences in the 4th quarter valued at about $64,000. Jefferies Financial Group Inc. bought a new position in Achieve Life Sciences in the 4th quarter valued at about $84,000. HRT Financial LP acquired a new stake in Achieve Life Sciences during the fourth quarter worth approximately $93,000. Finally, Robertson Stephens Wealth Management LLC lifted its holdings in Achieve Life Sciences by 100.0% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Trading Down 0.6%

Shares of NASDAQ:ACHV opened at $7.94 on Tuesday. The company has a market capitalization of $817.03 million, a P/E ratio of -5.12 and a beta of 2.24. Achieve Life Sciences, Inc. has a 1 year low of $2.62 and a 1 year high of $8.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50 day simple moving average is $6.40 and its 200 day simple moving average is $5.08.

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

Insiders Place Their Bets

In other news, Director Richard Alistair Stewart sold 20,626 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total transaction of $175,114.74. Following the completion of the transaction, the director owned 208,249 shares of the company’s stock, valued at approximately $1,768,034.01. The trade was a 9.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley initiated coverage on Achieve Life Sciences in a research report on Thursday, August 13th. They set an “overweight” rating and a $13.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 15th. UBS Group reaffirmed a “buy” rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. Two equities 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 MarketBeat, Achieve Life Sciences presently has an average rating of “Buy” and a consensus target price of $15.00.

Achieve Life Sciences Company 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.