Anika Therapeutics, Inc. (NASDAQ:ANIK) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC raised its stake in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) by 25.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 421,427 shares of the biotechnology company’s stock after purchasing an additional 86,436 shares during the quarter. Acadian Asset Management LLC owned about 2.84% of Anika Therapeutics worth $10,701,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC increased its position in shares of Anika Therapeutics by 7.8% in the 1st quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock valued at $219,000 after acquiring an additional 627 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Anika Therapeutics by 168.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,104 shares of the biotechnology company’s stock valued at $70,000 after purchasing an additional 1,947 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Anika Therapeutics by 16.9% in the first quarter. BNP Paribas Financial Markets now owns 22,240 shares of the biotechnology company’s stock worth $565,000 after purchasing an additional 3,217 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Anika Therapeutics during the fourth quarter worth about $156,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Anika Therapeutics in the first quarter valued at approximately $198,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Price Performance

NASDAQ:ANIK traded down $0.50 during trading hours on Friday, reaching $27.56. The company had a trading volume of 37,167 shares, compared to its average volume of 54,435. Anika Therapeutics, Inc. has a 1-year low of $16.54 and a 1-year high of $29.11. The business’s 50 day moving average price is $26.03 and its 200-day moving average price is $25.26. The firm has a market cap of $402.10 million, a PE ratio of -5.25 and a beta of 0.83.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Anika Therapeutics had a negative net margin of 45.39% and a positive return on equity of 0.48%. The firm had revenue of $40.52 million during the quarter, compared to analyst estimates of $39.23 million. On average, analysts expect that Anika Therapeutics, Inc. will post -0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Stephens reaffirmed an “equal weight” rating and issued a $24.00 price objective on shares of Anika Therapeutics in a report on Wednesday, May 29th. Barrington Research reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Anika Therapeutics in a report on Thursday, May 9th.

Anika Therapeutics Profile

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.