Anika Therapeutics, Inc. (NASDAQ:ANIK) Sees Significant Drop in Short Interest

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 669,200 shares, a drop of 6.0% from the July 15th total of 712,200 shares. Based on an average daily volume of 51,900 shares, the short-interest ratio is currently 12.9 days. Approximately 4.7% of the company’s shares are short sold.

Institutional Investors Weigh In On Anika Therapeutics

A number of large investors have recently modified their holdings of the stock. Invenomic Capital Management LP raised its stake in Anika Therapeutics by 124.6% in the fourth quarter. Invenomic Capital Management LP now owns 210,332 shares of the biotechnology company’s stock worth $4,766,000 after buying an additional 116,679 shares in the last quarter. Boston Partners purchased a new position in shares of Anika Therapeutics during the 1st quarter worth approximately $733,000. State Board of Administration of Florida Retirement System bought a new position in shares of Anika Therapeutics in the 1st quarter worth approximately $198,000. Acadian Asset Management LLC lifted its stake in shares of Anika Therapeutics by 25.8% in the 1st quarter. Acadian Asset Management LLC now owns 421,427 shares of the biotechnology company’s stock valued at $10,701,000 after purchasing an additional 86,436 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Anika Therapeutics during the fourth quarter valued at approximately $156,000. Institutional investors own 91.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stephens reiterated an “equal weight” rating and set a $24.00 price target on shares of Anika Therapeutics in a report on Wednesday, May 29th. Barrington Research restated an “outperform” rating and issued a $37.00 price objective on shares of Anika Therapeutics in a research report on Friday, August 9th.

Anika Therapeutics Stock Performance

NASDAQ ANIK opened at $25.75 on Wednesday. The stock has a market cap of $375.62 million, a P/E ratio of -4.90 and a beta of 0.83. Anika Therapeutics has a fifty-two week low of $16.54 and a fifty-two week high of $29.11. The stock has a 50 day simple moving average of $26.41 and a two-hundred day simple moving average of $25.80.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.24). The business had revenue of $41.92 million during the quarter, compared to analysts’ expectations of $39.90 million. Anika Therapeutics had a positive return on equity of 0.48% and a negative net margin of 45.39%. During the same period in the previous year, the business earned ($0.06) EPS. Sell-side analysts predict that Anika Therapeutics will post -0.05 earnings per share for the current year.

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.