Short Interest in Anika Therapeutics, Inc. (NASDAQ:ANIK) Increases By 5.1%

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 508,900 shares, an increase of 5.1% from the October 31st total of 484,400 shares. Based on an average daily trading volume, of 85,500 shares, the short-interest ratio is currently 6.0 days. Approximately 3.6% of the company’s stock are sold short.

Institutional Trading of Anika Therapeutics

Several institutional investors have recently made changes to their positions in ANIK. Vanguard Group Inc. grew its stake in shares of Anika Therapeutics by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 773,702 shares of the biotechnology company’s stock worth $19,652,000 after acquiring an additional 9,657 shares in the last quarter. Boston Partners bought a new stake in shares of Anika Therapeutics in the 1st quarter worth $733,000. Bank of New York Mellon Corp grew its stake in shares of Anika Therapeutics by 20.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 61,480 shares of the biotechnology company’s stock worth $1,557,000 after acquiring an additional 10,439 shares in the last quarter. Acadian Asset Management LLC grew its position in Anika Therapeutics by 5.1% during the second quarter. Acadian Asset Management LLC now owns 442,944 shares of the biotechnology company’s stock valued at $11,217,000 after buying an additional 21,517 shares during the period. Finally, American Century Companies Inc. grew its position in Anika Therapeutics by 11.8% during the second quarter. American Century Companies Inc. now owns 23,892 shares of the biotechnology company’s stock valued at $605,000 after buying an additional 2,518 shares during the period. Institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Price Performance

NASDAQ ANIK opened at $17.56 on Thursday. Anika Therapeutics has a 1 year low of $16.00 and a 1 year high of $29.11. The firm has a market cap of $257.25 million, a price-to-earnings ratio of -2.64 and a beta of 0.89. The company has a fifty day moving average price of $21.02 and a 200-day moving average price of $24.19.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ANIK. Barrington Research lowered their price objective on shares of Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com downgraded shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

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.