Quest Partners LLC Increases Stock Position in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Quest Partners LLC boosted its stake in Anika Therapeutics, Inc. (NASDAQ:ANIK) by 115.8% in the third quarter, Holdings Channel.com reports. The fund owned 6,904 shares of the biotechnology company’s stock after buying an additional 3,705 shares during the quarter. Quest Partners LLC’s holdings in Anika Therapeutics were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Eastern Bank purchased a new stake in Anika Therapeutics in the third quarter valued at $28,000. Lazard Asset Management LLC purchased a new stake in shares of Anika Therapeutics in the first quarter valued at about $180,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Anika Therapeutics in the first quarter valued at about $198,000. Atria Investments Inc purchased a new stake in shares of Anika Therapeutics in the third quarter valued at about $218,000. Finally, SG Americas Securities LLC raised its holdings in shares of Anika Therapeutics by 43.1% in the third quarter. SG Americas Securities LLC now owns 9,485 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 2,858 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Anika Therapeutics Price Performance

Shares of Anika Therapeutics stock opened at $17.72 on Thursday. Anika Therapeutics, Inc. has a 52-week low of $16.00 and a 52-week high of $29.11. The company’s 50-day simple moving average is $21.77 and its 200-day simple moving average is $24.47. The firm has a market cap of $259.60 million, a price-to-earnings ratio of -2.66 and a beta of 0.86.

Analyst Upgrades and Downgrades

ANIK has been the subject of a number of research reports. 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. StockNews.com cut shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

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.