Renaissance Technologies LLC Cuts Holdings in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Renaissance Technologies LLC lowered its stake in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 528,517 shares of the biotechnology company's stock after selling 45,712 shares during the period. Renaissance Technologies LLC owned about 3.61% of Anika Therapeutics worth $8,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new stake in Anika Therapeutics during the 4th quarter valued at about $27,000. Wells Fargo & Company MN grew its stake in shares of Anika Therapeutics by 31.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,421 shares of the biotechnology company's stock valued at $122,000 after buying an additional 1,759 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Anika Therapeutics by 9.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 11,700 shares of the biotechnology company's stock valued at $193,000 after buying an additional 980 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Anika Therapeutics in the 4th quarter valued at approximately $264,000. Finally, HighTower Advisors LLC grew its stake in shares of Anika Therapeutics by 11.3% in the 3rd quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company's stock valued at $387,000 after buying an additional 1,615 shares during the period. Hedge funds and other institutional investors own 91.53% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ANIK. B. Riley began coverage on shares of Anika Therapeutics in a report on Thursday, April 17th. They issued a "buy" rating and a $21.00 price objective on the stock. StockNews.com upgraded shares of Anika Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Finally, Barrington Research reduced their target price on shares of Anika Therapeutics from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th.

Anika Therapeutics Stock Performance

Shares of NASDAQ:ANIK traded up $0.39 on Wednesday, hitting $14.59. 2,072 shares of the company's stock were exchanged, compared to its average volume of 69,218. The firm's 50-day moving average is $15.65 and its 200 day moving average is $17.45. The company has a market capitalization of $206.83 million, a PE ratio of -2.19 and a beta of 0.82. Anika Therapeutics, Inc. has a 1-year low of $12.83 and a 1-year high of $29.12.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last announced its earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.13). The firm had revenue of $30.60 million during the quarter, compared to analyst estimates of $29.00 million. Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. On average, analysts anticipate that Anika Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

About Anika Therapeutics

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.