Connor Clark & Lunn Investment Management Ltd. Sells 1,212 Shares of Anika Therapeutics, Inc. (NASDAQ:ANIK)

Connor Clark & Lunn Investment Management Ltd. reduced its position in Anika Therapeutics, Inc. (NASDAQ:ANIK) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,606 shares of the biotechnology company’s stock after selling 1,212 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.39% of Anika Therapeutics worth $1,423,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Eastern Bank purchased a new position in Anika Therapeutics during the 3rd quarter valued at about $28,000. Quest Partners LLC boosted its stake in shares of Anika Therapeutics by 115.8% during the third quarter. Quest Partners LLC now owns 6,904 shares of the biotechnology company’s stock valued at $171,000 after purchasing an additional 3,705 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Anika Therapeutics during the first quarter valued at approximately $180,000. State Board of Administration of Florida Retirement System bought a new position in Anika Therapeutics in the first quarter worth approximately $198,000. Finally, Atria Investments Inc purchased a new stake in Anika Therapeutics during the third quarter worth $218,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ANIK. StockNews.com downgraded Anika Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Barrington Research reduced their target price on shares of Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

Anika Therapeutics Price Performance

Shares of ANIK stock opened at $17.72 on Wednesday. The stock’s fifty day moving average price is $21.92 and its 200 day moving average price is $24.52. Anika Therapeutics, Inc. has a 1-year low of $16.00 and a 1-year high of $29.11. The company has a market cap of $259.53 million, a price-to-earnings ratio of -2.66 and a beta of 0.86.

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.