Achieve Life Sciences

ACHV • NASDAQ

Achieve Life Sciences is a biotechnology company in the healthcare sector on NASDAQ, led by Richard Stewart, with a market cap of $247.0M. As of Q3 2025, 30% of shares are held by 65 institutional investors, with Propel Bio Management, LLC as the largest holder at 7.41%.

Chief Executive Officer, principal executive officer, and principal financial officerRichard Stewart

Market Cap$247.0M

Biotechnology

Healthcare

Employees22.0

Websiteachievelifesciences.com

Country

United States of America

Overview

Overview of institutional ownership in ACHV as of Q3 2025 with a market cap of $161.0M

All Institutions

Institutions: 65
Value Held: $48.9M
Shares Held: 15.5M
Avg Position: $752.3K
Median Position: $111.9K

Hedge Funds

Hedge Funds: 10
Value Held: $20.7M
Shares Held: 6.6M
Avg Position: $2.1M
Median Position: $1.1M

Ownership Breakdown

Institutional (non-HF)

17.5%

$28.2M

Hedge Funds

12.88%

$20.7M

Retail & Other

69.62%

$112.1M

Based on market cap of $161.0M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in ACHV as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Propel Bio Management, LLC Hedge Fund•Sector	Leen Kawas Managing Partner	$11.9M 11.94% of portfolio	7.41% 3.8M shares	Q1 2024 Held for 1y 8m	$99.9M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$7.8M 0.00% of portfolio	4.82% 2.5M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
S Simplify Asset Management Inc. Institution	-	$3.7M 0.24% of portfolio	2.32% 1.2M shares	Q1 2024 Held for 1y 8m	$1.6B
Marshall Wace LLP Institution	Diana Lj Harrison President	$2.4M 0.00% of portfolio	1.52% 774.9K shares	Q3 2025 Held for 2 months	$90.3B
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	Daniel J. Mack Managing Partner	$2.0M 0.13% of portfolio	1.27% 648.9K shares	Q1 2024 Held for 1y 8m	$1.6B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$1.6M 0.00% of portfolio	0.99% 507.0K shares	Q1 2021 Held for 4y 8m	$1.57T
Pathstone Holdings, LLC Family Office	Matthew Jacob Fleissig CEO	$1.6M 0.01% of portfolio	0.98% 502.0K shares	Q3 2025 Held for 2 months	$26.2B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$1.4M 0.00% of portfolio	0.89% 456.4K shares	Q4 2024 Held for 11 months	$310.43B
C Clearline Capital LP Hedge Fund•Event Driven	Mohit Bhasin CFO	$1.4M 0.12% of portfolio	0.88% 451.2K shares	Q2 2025 Held for 5 months	$1.2B
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	Scott David Hoffman CEO	$1.4M 0.00% of portfolio	0.86% 439.1K shares	Q3 2025 Held for 2 months	$62.0B

Net Capital Flow

Institutional buying and selling activity for ACHV in Q3 2025

Traded: −$5.6M
Buyers: 44
Sellers: 33
Total Bought: +$14.0M
Total Sold: −$19.6M
Avg Position: $575.3K

Biggest Buyers

Institution	Net Bought	Current Position
Marshall Wace LLP Institution	+$2.4M +774.9K shares	$2.4M 774.9K shares
Pathstone Holdings, LLC Family Office	+$1.6M +502.0K shares	$1.6M 502.0K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$1.4M +439.1K shares	$1.4M 439.1K shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$1.1M +359.6K shares	$1.2M 373.1K shares
VANGUARD GROUP INC Institution	+$982.6K +311.9K shares	$7.8M 2.5M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$978.9K +310.8K shares	$978.9K 310.8K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$925.0K +293.6K shares	$1.2M 366.4K shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	+$561.9K +-3.3M shares	$561.9K 178.4K shares
GOLDMAN SACHS GROUP INC Institution	+$516.3K +163.9K shares	$705.1K 223.8K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$508.1K +161.3K shares	$1.4M 456.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
Propel Bio Management, LLC Hedge Fund•Sector	−$7.5M −2.4M shares	$11.9M 3.8M shares
C Clearline Capital LP Hedge Fund•Event Driven	−$2.8M −875.0K shares	$1.4M 451.2K shares
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	−$2.7M −1.2M shares	Sold Off 0 shares
H HEIGHTS CAPITAL MANAGEMENT, INC Institution	−$2.2M −989.5K shares	Sold Off 0 shares
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	−$787.5K −250.0K shares	$2.0M 648.9K shares
S Stonepine Capital Management, LLC Institution	−$753.3K −333.3K shares	Sold Off 0 shares
L Long Focus Capital Management, LLC Hedge Fund•Global Macro	−$560.7K −248.1K shares	Sold Off 0 shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$468.4K −148.7K shares	$748.1K 237.5K shares
H HIGHBRIDGE CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$300.4K −132.9K shares	Sold Off 0 shares
Y Y-Intercept Ltd Institution	−$263.1K −116.4K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited ACHV in Q3 2025

New Positions: 14
New Value: $4.7M
Exited Positions: 20
Exited Value: $7.7M

New Positions

Institution	Position Value
Marshall Wace LLP Institution	$2.4M 774.9K shares
Pathstone Holdings, LLC Family Office	$1.6M 502.0K shares
R Ronald Blue Trust, Inc. Institution	$312.3K 99.1K shares
C Cubist Systematic Strategies, LLC Institution	$111.9K 35.5K shares
Rockefeller Capital Management L.P. Long Only Manager	$94.5K 30.0K shares
R Resources Investment Advisors, Inc. Pension/Endowment	$63.0K 20.0K shares
Next Capital Management LLC RIA/Wealth	$50.8K 16.1K shares
R Robertson Stephens Wealth Management, LLC Institution	$31.5K 10.0K shares
P Point72 Asia Pte. Ltd. Institution	$23.6K 7.5K shares
SITTNER & NELSON, LLC RIA/Wealth	$2.1K 673.0 shares

Exited Positions

Institution	Previous Position
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	$2.7M 1.2M shares
H HEIGHTS CAPITAL MANAGEMENT, INC Institution	$2.2M 989.5K shares
S Stonepine Capital Management, LLC Institution	$753.3K 333.3K shares
L Long Focus Capital Management, LLC Hedge Fund•Global Macro	$560.7K 248.1K shares
H HIGHBRIDGE CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$300.4K 132.9K shares
Y Y-Intercept Ltd Institution	$263.1K 116.4K shares
A Alpine Partners VI, LLC Institution	$226.0K 100.0K shares
J JANE STREET GROUP, LLC Institution	$159.2K 70.5K shares
B Brevan Howard Capital Management LP Institution	$145.4K 64.3K shares
Aster Capital Management Ltd RIA/Wealth	$136.8K 60.5K shares

Options Activity

Institutions with the largest Call and Put options positions in ACHV as of Q3 2025

Call Positions: 4
Call Value: $1.2M
Put Positions: 2
Put Value: $160.0K

Call Positions

Institution	Position Value
Caption Management, LLC Hedge Fund•Long/Short	$630.0K 2.0K contracts
J JANE STREET GROUP, LLC Institution	$235.9K 749.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$227.1K 721.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$76.2K 242.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$98.0K 311.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$62.1K 197.0 contracts

Most Committed Institutions

Institutions with ACHV as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Propel Bio Management, LLC Hedge Fund•Sector	Leen Kawas Managing Partner	11.94% $11.9M	7.41% 3.8M shares	Q1 2024 Held for 1y 8m	$99.9M
S Simplify Asset Management Inc. Institution	-	0.24% $3.7M	2.32% 1.2M shares	Q1 2024 Held for 1y 8m	$1.6B
S Shay Capital LLC Institution	-	0.17% $912.1K	0.57% 289.5K shares	Q1 2021 Held for 4y 8m	$548.9M
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	Daniel J. Mack Managing Partner	0.13% $2.0M	1.27% 648.9K shares	Q1 2024 Held for 1y 8m	$1.6B
C Clearline Capital LP Hedge Fund•Event Driven	Mohit Bhasin CFO	0.12% $1.4M	0.88% 451.2K shares	Q2 2025 Held for 5 months	$1.2B
S Sender Co & Partners, Inc. Institution	-	0.03% $78.8K	0.05% 25.0K shares	Q2 2025 Held for 5 months	$256.4M
MANCHESTER FINANCIAL INC RIA/Wealth	Robert James Katch President	0.03% $147.0K	0.09% 46.7K shares	Q2 2023 Held for 2y 5m	$495.4M
M Madison Park Capital Advisors, LLC RIA/Wealth	Larry Walter Gies CEO	0.03% $31.5K	0.02% 10.0K shares	Q4 2023 Held for 1y 11m	$121.9M
Next Capital Management LLC RIA/Wealth	Andrew Craig Hart CEO	0.02% $50.8K	0.03% 16.1K shares	Q3 2025 Held for 2 months	$299.4M
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	Daniel Pawel Schneeberger Managing Partner	0.02% $150.6K	0.09% 47.8K shares	Q1 2024 Held for 1y 8m	$993.7M

Hedge Fund Spotlight

Discover hedge funds investing in ACHV

Propel Bio Management, LLC

Hedge Fund • Sector

Portfolio ManagerLeen Kawas

Portfolio Value: $99.9M
Positions: 16
Last Reported: Q3 2025

Sector Allocation

Position in Achieve Life Sciences

Market Value: $11.9M
Shares Held: 3.8M
Portfolio Weight: 11.94%
Owned Since: 2024-Q1

Top Holding	Sector	Market Value	Weight
1 Plains GP Holdings, L.P. PAGP	Oil & Gas Midstream Energy	$23.2M	23.23%
2 Achieve Life Sciences ACHV	Biotechnology Healthcare	$11.9M	11.94%
3 Akero Therapeutics AKRO	Biotechnology Healthcare	$10.9M	10.88%