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

Anika Therapeutics, Inc. (NASDAQ:ANIK - Get Free Report) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 367,500 shares, a drop of 27.8% from the November 15th total of 508,900 shares. Currently, 2.6% of the company's stock are sold short. Based on an average daily trading volume, of 92,800 shares, the short-interest ratio is presently 4.0 days.

Analyst Ratings Changes

ANIK has been the topic of a number of recent analyst reports. StockNews.com cut shares of Anika Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, November 4th. Barrington Research decreased their price objective on shares of Anika Therapeutics from $37.00 to $25.00 and set an "outperform" rating for the company in a research report on Friday, November 1st.

Anika Therapeutics Stock Down 1.0 %

Shares of Anika Therapeutics stock traded down $0.17 during midday trading on Friday, hitting $17.16. The company had a trading volume of 40,969 shares, compared to its average volume of 71,742. The stock has a market cap of $251.39 million, a price-to-earnings ratio of -2.58 and a beta of 0.89. The company has a fifty day simple moving average of $20.16 and a 200 day simple moving average of $23.88. Anika Therapeutics has a 12-month low of $16.00 and a 12-month high of $29.11.

Hedge Funds Weigh In On Anika Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meros Investment Management LP raised its position in shares of Anika Therapeutics by 25.0% in the 2nd quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company's stock valued at $5,388,000 after purchasing an additional 42,587 shares during the last quarter. Riverwater Partners LLC raised its position in Anika Therapeutics by 539.1% during the 3rd quarter. Riverwater Partners LLC now owns 101,996 shares of the biotechnology company's stock worth $2,552,000 after buying an additional 86,037 shares during the last quarter. Stonepine Capital Management LLC raised its position in Anika Therapeutics by 171.4% during the 2nd quarter. Stonepine Capital Management LLC now owns 165,397 shares of the biotechnology company's stock worth $4,190,000 after buying an additional 104,448 shares during the last quarter. Renaissance Technologies LLC raised its position in Anika Therapeutics by 6.9% during the 2nd quarter. Renaissance Technologies LLC now owns 598,229 shares of the biotechnology company's stock worth $15,153,000 after buying an additional 38,412 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Anika Therapeutics by 5.1% during the 2nd quarter. Acadian Asset Management LLC now owns 442,944 shares of the biotechnology company's stock worth $11,217,000 after buying an additional 21,517 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

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.

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