Anika Therapeutics, Inc. (NASDAQ:ANIK) Short Interest Update

Anika Therapeutics, Inc. (NASDAQ:ANIK - Get Free Report) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 508,900 shares, an increase of 5.1% from the October 31st total of 484,400 shares. Based on an average daily volume of 85,500 shares, the days-to-cover ratio is presently 6.0 days. Approximately 3.6% of the company's shares are short sold.

Anika Therapeutics Trading Down 1.4 %

Shares of NASDAQ:ANIK traded down $0.24 on Tuesday, reaching $17.31. The company had a trading volume of 66,038 shares, compared to its average volume of 71,154. Anika Therapeutics has a 52-week low of $16.00 and a 52-week high of $29.11. The firm's 50 day simple moving average is $21.31 and its 200-day simple moving average is $24.30.

Institutional Trading of Anika Therapeutics

Several hedge funds have recently modified their holdings of ANIK. Eastern Bank purchased a new stake in Anika Therapeutics during the third quarter valued at approximately $28,000. Quest Partners LLC boosted its position 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 purchasing an additional 3,705 shares in the last quarter. Atria Investments Inc purchased a new position in Anika Therapeutics during the 3rd quarter worth $218,000. SG Americas Securities LLC raised its stake in Anika Therapeutics by 43.1% in the third quarter. SG Americas Securities LLC now owns 9,485 shares of the biotechnology company's stock valued at $234,000 after buying an additional 2,858 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Anika Therapeutics in the third quarter valued at about $238,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ANIK shares. StockNews.com cut Anika Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, November 4th. Barrington Research dropped their target price on shares of Anika Therapeutics from $37.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, November 1st.

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.