Achieve Life Sciences Inc (NASDAQ:ACHV) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 361,300 shares, a decline of 12.6% from the June 30th total of 413,200 shares. Based on an average daily volume of 202,900 shares, the days-to-cover ratio is presently 1.8 days. Currently, 5.7% of the shares of the company are sold short.

NASDAQ ACHV opened at $1.77 on Friday. The stock has a market cap of $14.66 million, a P/E ratio of -0.49 and a beta of 2.07. The company’s 50-day simple moving average is $1.86 and its 200 day simple moving average is $2.78. Achieve Life Sciences has a twelve month low of $1.04 and a twelve month high of $5.25. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.03.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.17). Research analysts anticipate that Achieve Life Sciences will post -1.78 earnings per share for the current year.

In related news, CEO Richard Alistair Stewart acquired 17,500 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $3.61 per share, for a total transaction of $63,175.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Armistice Capital Master Fund acquired 12,813 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were bought at an average price of $3.80 per share, for a total transaction of $48,689.40. The disclosure for this purchase can be found here. Insiders own 6.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in Achieve Life Sciences in the second quarter valued at about $32,000. Renaissance Technologies LLC increased its stake in Achieve Life Sciences by 12.5% in the second quarter. Renaissance Technologies LLC now owns 321,268 shares of the biopharmaceutical company’s stock valued at $620,000 after acquiring an additional 35,607 shares during the period. Searle & CO. increased its stake in Achieve Life Sciences by 80.4% in the second quarter. Searle & CO. now owns 132,592 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 59,092 shares during the period. Sio Capital Management LLC grew its stake in Achieve Life Sciences by 24.4% during the second quarter. Sio Capital Management LLC now owns 524,413 shares of the biopharmaceutical company’s stock worth $1,012,000 after buying an additional 102,934 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Achieve Life Sciences by 152.2% during the second quarter. Vanguard Group Inc. now owns 274,519 shares of the biopharmaceutical company’s stock worth $530,000 after buying an additional 165,667 shares during the last quarter. 14.47% of the stock is currently owned by institutional investors and hedge funds.

ACHV has been the topic of a number of analyst reports. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $20.00 target price on shares of Achieve Life Sciences in a research note on Friday, August 9th. ValuEngine raised shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Maxim Group set a $6.00 target price on shares of Achieve Life Sciences and gave the company a “buy” rating in a research note on Friday, August 9th.

About Achieve Life Sciences

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes smoking cessation aids in the United States and internationally. The company offers Cytisine, a plant-based alkaloid that interacts with nicotine receptors in the brain to help reduce the severity of nicotine withdrawal symptoms.

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