Allspring Global Investments Holdings LLC Buys 14,259 Shares of Anika Therapeutics, Inc. (NASDAQ:ANIK)

Allspring Global Investments Holdings LLC lifted its stake in Anika Therapeutics, Inc. (NASDAQ:ANIK) by 28.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,270 shares of the biotechnology company’s stock after purchasing an additional 14,259 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Anika Therapeutics were worth $1,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in Anika Therapeutics by 168.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,104 shares of the biotechnology company’s stock worth $70,000 after buying an additional 1,947 shares during the period. Quest Partners LLC acquired a new stake in Anika Therapeutics during the 4th quarter worth $156,000. SG Americas Securities LLC raised its stake in Anika Therapeutics by 20.2% during the 4th quarter. SG Americas Securities LLC now owns 7,988 shares of the biotechnology company’s stock worth $181,000 after buying an additional 1,341 shares during the period. Connors Investor Services Inc. raised its stake in Anika Therapeutics by 30.5% during the 3rd quarter. Connors Investor Services Inc. now owns 10,699 shares of the biotechnology company’s stock worth $199,000 after buying an additional 2,500 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Anika Therapeutics during the 3rd quarter worth $209,000. 91.53% of the stock is currently owned by institutional investors.

Anika Therapeutics Price Performance

ANIK opened at $25.36 on Thursday. The business’s 50-day moving average price is $25.95 and its two-hundred day moving average price is $24.88. Anika Therapeutics, Inc. has a 1 year low of $16.54 and a 1 year high of $28.67. The company has a market capitalization of $369.93 million, a price-to-earnings ratio of -4.83 and a beta of 0.83.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Anika Therapeutics had a negative net margin of 45.39% and a positive return on equity of 0.48%. The firm had revenue of $40.52 million during the quarter, compared to analyst estimates of $39.23 million. Sell-side analysts anticipate that Anika Therapeutics, Inc. will post -0.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ANIK. Barrington Research reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Anika Therapeutics in a research note on Thursday, May 9th. StockNews.com raised Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, Stephens reissued an “equal weight” rating and issued a $24.00 price target on shares of Anika Therapeutics in a research note on Wednesday, May 29th.

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.