Caligan Partners LP Reduces Stake in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Caligan Partners LP decreased its holdings in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,435,130 shares of the biotechnology company’s stock after selling 863 shares during the period. Anika Therapeutics makes up 11.2% of Caligan Partners LP’s portfolio, making the stock its 5th biggest holding. Caligan Partners LP owned 0.10% of Anika Therapeutics worth $35,448,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Stonepine Capital Management LLC lifted its stake in Anika Therapeutics by 14.5% during the third quarter. Stonepine Capital Management LLC now owns 189,308 shares of the biotechnology company’s stock valued at $4,676,000 after purchasing an additional 23,911 shares during the last quarter. FMR LLC lifted its position in shares of Anika Therapeutics by 25.3% during the 3rd quarter. FMR LLC now owns 24,721 shares of the biotechnology company’s stock valued at $611,000 after acquiring an additional 4,996 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of Anika Therapeutics by 1.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 108,799 shares of the biotechnology company’s stock worth $2,687,000 after acquiring an additional 1,794 shares in the last quarter. Quest Partners LLC grew its holdings in shares of Anika Therapeutics by 115.8% in the 3rd quarter. Quest Partners LLC now owns 6,904 shares of the biotechnology company’s stock worth $171,000 after acquiring an additional 3,705 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Anika Therapeutics during the third quarter worth $238,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Anika Therapeutics Price Performance

Anika Therapeutics stock opened at $17.72 on Friday. Anika Therapeutics, Inc. has a 12 month low of $16.00 and a 12 month high of $29.11. The company’s fifty day simple moving average is $21.46 and its 200-day simple moving average is $24.36. The stock has a market cap of $259.53 million, a P/E ratio of -2.66 and a beta of 0.86.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ANIK shares. Barrington Research dropped their price target on Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. StockNews.com lowered shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

Anika Therapeutics Company 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.