Raymond James & Associates Purchases 33,203 Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV)

Raymond James & Associates lifted its stake in Achieve Life Sciences, Inc. (NASDAQ:ACHV) by 31.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,485 shares of the biopharmaceutical company’s stock after purchasing an additional 33,203 shares during the period. Raymond James & Associates’ holdings in Achieve Life Sciences were worth $714,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in shares of Achieve Life Sciences by 75.6% in the first quarter. Tower Research Capital LLC TRC now owns 3,646 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 1,570 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Achieve Life Sciences by 6.1% in the first quarter. Renaissance Technologies LLC now owns 41,600 shares of the biopharmaceutical company’s stock valued at $283,000 after purchasing an additional 2,400 shares in the last quarter. Prelude Capital Management LLC increased its holdings in shares of Achieve Life Sciences by 28.5% in the first quarter. Prelude Capital Management LLC now owns 15,220 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 3,375 shares in the last quarter. State Street Corp increased its holdings in shares of Achieve Life Sciences by 26.9% in the first quarter. State Street Corp now owns 18,731 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 3,970 shares in the last quarter. Finally, BerganKDV Wealth Management LLC acquired a new stake in shares of Achieve Life Sciences in the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 43.65% of the company’s stock.

Achieve Life Sciences Stock Performance

Shares of Achieve Life Sciences stock opened at $4.18 on Tuesday. The firm has a 50 day simple moving average of $4.33 and a 200 day simple moving average of $5.54. The company has a debt-to-equity ratio of 1.63, a current ratio of 7.65 and a quick ratio of 7.65. Achieve Life Sciences, Inc. has a fifty-two week low of $2.00 and a fifty-two week high of $10.30. The firm has a market cap of $88.22 million, a P/E ratio of -1.34 and a beta of 1.44.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.02). Sell-side analysts predict that Achieve Life Sciences, Inc. will post -1.62 earnings per share for the current fiscal year.

Achieve Life Sciences Profile

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction in Canada, the United States, and the United Kingdom. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.