JPMorgan Chase & Co. Increases Stock Holdings in Anika Therapeutics, Inc. (NASDAQ:ANIK)

JPMorgan Chase & Co. raised its stake in Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) by 431.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,491 shares of the biotechnology company's stock after purchasing an additional 66,982 shares during the period. JPMorgan Chase & Co. owned about 0.56% of Anika Therapeutics worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Management Corp VA raised its holdings in Anika Therapeutics by 12.1% in the fourth quarter. Capital Management Corp VA now owns 325,545 shares of the biotechnology company's stock valued at $5,358,000 after acquiring an additional 35,195 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Anika Therapeutics by 20.8% in the 4th quarter. Bank of New York Mellon Corp now owns 50,529 shares of the biotechnology company's stock valued at $832,000 after purchasing an additional 8,711 shares in the last quarter. Barclays PLC lifted its position in shares of Anika Therapeutics by 66.6% during the 3rd quarter. Barclays PLC now owns 32,664 shares of the biotechnology company's stock worth $806,000 after purchasing an additional 13,054 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Anika Therapeutics by 9.3% during the 4th quarter. American Century Companies Inc. now owns 29,891 shares of the biotechnology company's stock worth $492,000 after purchasing an additional 2,553 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Anika Therapeutics by 54.1% in the third quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company's stock valued at $601,000 after buying an additional 8,550 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Anika Therapeutics Trading Up 1.2 %

Shares of Anika Therapeutics stock traded up $0.18 on Tuesday, hitting $14.69. The stock had a trading volume of 37,544 shares, compared to its average volume of 69,426. The company's 50 day moving average price is $15.38 and its 200 day moving average price is $17.10. The stock has a market cap of $208.25 million, a price-to-earnings ratio of -2.21 and a beta of 0.82. Anika Therapeutics, Inc. has a 52-week low of $12.83 and a 52-week 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 business had revenue of $30.60 million for the quarter, compared to analysts' expectations of $29.00 million. Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. Analysts predict that Anika Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ANIK. Barrington Research decreased their price target on Anika Therapeutics from $25.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. B. Riley started coverage on Anika Therapeutics in a research note on Thursday, April 17th. They set a "buy" rating and a $21.00 target price for the company. Finally, StockNews.com upgraded shares of Anika Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th.

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.