Anika Therapeutics, Inc. (NASDAQ:ANIK) Sees Large Increase in Short Interest

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 766,100 shares, a growth of 32.4% from the February 29th total of 578,500 shares. Based on an average daily volume of 84,100 shares, the short-interest ratio is currently 9.1 days. Currently, 5.4% of the company’s stock are sold short.

Anika Therapeutics Stock Performance

Shares of Anika Therapeutics stock opened at $25.40 on Monday. Anika Therapeutics has a one year low of $16.54 and a one year high of $29.25. The stock’s fifty day moving average is $24.67 and its 200 day moving average is $22.09. The stock has a market cap of $377.19 million, a P/E ratio of -4.50, a P/E/G ratio of 2.27 and a beta of 0.75.

Analysts Set New Price Targets

ANIK has been the subject of several recent analyst reports. Stephens restated an “equal weight” rating and set a $22.00 price objective on shares of Anika Therapeutics in a research report on Thursday, March 14th. Barrington Research upped their target price on Anika Therapeutics from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Finally, StockNews.com upgraded Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, March 14th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Swiss National Bank raised its stake in Anika Therapeutics by 7.5% during the 1st quarter. Swiss National Bank now owns 34,200 shares of the biotechnology company’s stock worth $859,000 after acquiring an additional 2,400 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Anika Therapeutics by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 133,103 shares of the biotechnology company’s stock valued at $3,342,000 after acquiring an additional 844 shares during the last quarter. MetLife Investment Management LLC lifted its position in Anika Therapeutics by 72.4% in the 1st quarter. MetLife Investment Management LLC now owns 8,530 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 3,582 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Anika Therapeutics by 2.4% in the 1st quarter. Rhumbline Advisers now owns 43,056 shares of the biotechnology company’s stock worth $1,081,000 after purchasing an additional 1,013 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Anika Therapeutics by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,446 shares of the biotechnology company’s stock worth $313,000 after purchasing an additional 1,534 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

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 bone preserving joint solutions in the United States, Europe, and internationally.