Trigran Investments Inc. Reduces Stake in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Trigran Investments Inc. lowered its stake in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,021,778 shares of the biotechnology company's stock after selling 102,682 shares during the quarter. Anika Therapeutics accounts for 3.8% of Trigran Investments Inc.'s investment portfolio, making the stock its 13th largest holding. Trigran Investments Inc. owned 13.80% of Anika Therapeutics worth $33,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ANIK. R Squared Ltd purchased a new position in shares of Anika Therapeutics in the 4th quarter worth approximately $27,000. Wells Fargo & Company MN lifted its holdings in Anika Therapeutics by 31.1% during the fourth quarter. Wells Fargo & Company MN now owns 7,421 shares of the biotechnology company's stock worth $122,000 after acquiring an additional 1,759 shares during the period. Los Angeles Capital Management LLC boosted its position in Anika Therapeutics by 9.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 11,700 shares of the biotechnology company's stock worth $193,000 after purchasing an additional 980 shares during the last quarter. HighTower Advisors LLC grew its stake in 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 purchasing an additional 1,615 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Anika Therapeutics during the 4th quarter valued at $264,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Anika Therapeutics Trading Up 2.1 %

Shares of ANIK stock traded up $0.29 on Thursday, hitting $14.38. 59,388 shares of the stock were exchanged, compared to its average volume of 69,463. The firm's 50 day moving average is $15.58 and its two-hundred day moving average is $17.43. Anika Therapeutics, Inc. has a one year low of $12.83 and a one year high of $29.12. The firm has a market capitalization of $203.85 million, a PE ratio of -2.16 and a beta of 0.82.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last issued its earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates 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. On average, sell-side analysts expect that Anika Therapeutics, Inc. will post -0.84 earnings per share for the current year.

Analyst Ratings Changes

ANIK has been the topic of a number of research analyst reports. 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 target on the stock. Barrington Research dropped their target price on shares of Anika Therapeutics from $25.00 to $20.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Finally, StockNews.com raised shares of Anika Therapeutics from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th.

Anika Therapeutics 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.