Renaissance Technologies LLC Decreases Stock Position in Achieve Life Sciences, Inc. $ACHV

Renaissance Technologies LLC decreased its position in Achieve Life Sciences, Inc. (NASDAQ:ACHV) by 81.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,952 shares of the biopharmaceutical company’s stock after selling 124,508 shares during the quarter. Renaissance Technologies LLC owned 0.05% of Achieve Life Sciences worth $82,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ACHV. AQR Capital Management LLC purchased a new position in shares of Achieve Life Sciences in the first quarter valued at $32,000. Qube Research & Technologies Ltd purchased a new stake in Achieve Life Sciences during the 2nd quarter worth $232,000. Raymond James Financial Inc. increased its stake in Achieve Life Sciences by 57.1% during the 2nd quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock worth $667,000 after buying an additional 107,218 shares during the period. Jane Street Group LLC acquired a new position in Achieve Life Sciences in the 2nd quarter worth $159,000. Finally, Bank of America Corp DE lifted its holdings in Achieve Life Sciences by 39.9% in the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 9,617 shares in the last quarter. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Stock Down 6.0%

Shares of Achieve Life Sciences stock opened at $8.02 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The firm has a market cap of $825.26 million, a P/E ratio of -5.17 and a beta of 2.24. Achieve Life Sciences, Inc. has a fifty-two week low of $2.60 and a fifty-two week high of $8.61. The business has a 50-day moving average price of $6.31 and a 200 day moving average price of $5.03.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). On average, sell-side analysts forecast that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ACHV shares. Morgan Stanley assumed coverage on Achieve Life Sciences in a research note on Thursday, August 13th. They set an “overweight” rating and a $13.00 target price for the company. Wall Street Zen cut Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 15th. Raymond James Financial restated a “strong-buy” rating and set a $18.00 price objective on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Two investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $15.00.

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.