Anika Therapeutics, Inc. (NASDAQ:ANIK) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in Anika Therapeutics, Inc. (NASDAQ:ANIK) by 20.8% in the 4th quarter, Holdings Channel reports. The fund owned 50,529 shares of the biotechnology company’s stock after purchasing an additional 8,711 shares during the period. Bank of New York Mellon Corp’s holdings in Anika Therapeutics were worth $832,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Anika Therapeutics during the 4th quarter worth $27,000. Quest Partners LLC grew 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 acquiring an additional 3,705 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Anika Therapeutics by 11.3% in the third quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company’s stock worth $387,000 after acquiring an additional 1,615 shares in the last quarter. Jane Street Group LLC boosted its holdings in Anika Therapeutics by 54.1% in the third quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company’s stock valued at $601,000 after purchasing an additional 8,550 shares during the last quarter. Finally, FMR LLC grew its stake in Anika Therapeutics by 25.3% during the 3rd quarter. FMR LLC now owns 24,721 shares of the biotechnology company’s stock valued at $611,000 after purchasing an additional 4,996 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Stock Down 0.5 %

NASDAQ:ANIK opened at $15.42 on Wednesday. The company has a market cap of $218.59 million, a PE ratio of -2.32 and a beta of 0.95. The business’s 50 day moving average is $16.89 and its two-hundred day moving average is $18.99. Anika Therapeutics, Inc. has a 52 week low of $14.95 and a 52 week high of $29.12.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.13). Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. The firm had revenue of $30.60 million for the quarter, compared to the consensus estimate of $29.00 million. As a group, sell-side analysts expect that Anika Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ANIK shares. Barrington Research cut their target price on Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. StockNews.com raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, March 13th.

About Anika Therapeutics

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.