Propel Bio Management LLC Sells 2,366,666 Shares of Achieve Life Sciences, Inc. $ACHV

Propel Bio Management LLC reduced its stake in Achieve Life Sciences, Inc. (NASDAQ:ACHV) by 38.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,786,425 shares of the biopharmaceutical company’s stock after selling 2,366,666 shares during the period. Achieve Life Sciences accounts for about 11.9% of Propel Bio Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Propel Bio Management LLC owned about 0.07% of Achieve Life Sciences worth $11,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. boosted its position in Achieve Life Sciences by 81.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock valued at $10,077,000 after purchasing an additional 2,000,079 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Achieve Life Sciences in the second quarter worth $2,652,000. Simplify Asset Management Inc. lifted its stake in Achieve Life Sciences by 443.7% in the second quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock valued at $2,677,000 after buying an additional 966,667 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in Achieve Life Sciences in the second quarter valued at $753,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Achieve Life Sciences by 14.5% during the third quarter. Vanguard Group Inc. now owns 2,461,802 shares of the biopharmaceutical company’s stock valued at $7,755,000 after acquiring an additional 311,925 shares during the period. Institutional investors own 33.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ACHV. Citigroup assumed coverage on Achieve Life Sciences in a research report on Tuesday, November 25th. They set an “outperform” rating for the company. Citizens Jmp assumed coverage on shares of Achieve Life Sciences in a research report on Tuesday, November 25th. They set a “market outperform” rating and a $19.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 29th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Achieve Life Sciences in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Achieve Life Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Achieve Life Sciences Stock Performance

Shares of ACHV opened at $4.58 on Thursday. The company has a market capitalization of $243.79 million, a PE ratio of -3.32 and a beta of 1.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.14 and a current ratio of 5.14. The company’s 50 day moving average price is $4.75 and its 200 day moving average price is $4.18. Achieve Life Sciences, Inc. has a 52 week low of $1.84 and a 52 week high of $6.03.

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.