Arrowstreet Capital Limited Partnership Sells 49,338 Shares of Anika Therapeutics, Inc. (NASDAQ:ANIK)

Arrowstreet Capital Limited Partnership lessened its stake in Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) by 45.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,455 shares of the biotechnology company's stock after selling 49,338 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.41% of Anika Therapeutics worth $979,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Anika Therapeutics in the fourth quarter worth $27,000. Los Angeles Capital Management LLC raised its holdings in shares of Anika Therapeutics by 9.1% during 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 in the last quarter. HighTower Advisors LLC lifted its position in Anika Therapeutics by 11.3% in the 3rd quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company's stock worth $387,000 after buying an additional 1,615 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Anika Therapeutics by 9.3% during the fourth quarter. American Century Companies Inc. now owns 29,891 shares of the biotechnology company's stock worth $492,000 after acquiring an additional 2,553 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Anika Therapeutics by 54.1% in the 3rd quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company's stock worth $601,000 after acquiring an additional 8,550 shares during the last quarter. Institutional investors own 91.53% of the company's stock.

Remove Ads

Anika Therapeutics Trading Down 1.6 %

Anika Therapeutics stock traded down $0.22 on Wednesday, hitting $13.50. 25,645 shares of the stock traded hands, compared to its average volume of 69,186. Anika Therapeutics, Inc. has a 1 year low of $12.83 and a 1 year high of $29.12. The firm has a market cap of $191.38 million, a P/E ratio of -2.03 and a beta of 0.82. The business's fifty day simple moving average is $16.03 and its 200 day simple moving average is $17.83.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.13). Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. The business had revenue of $30.60 million for the quarter, compared to the consensus estimate of $29.00 million. As a group, analysts predict that Anika Therapeutics, Inc. will post -0.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barrington Research lowered their target price on Anika Therapeutics from $25.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. StockNews.com raised Anika Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th.

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.