Quest Partners LLC Sells 1,276 Shares of Anika Therapeutics, Inc. (NASDAQ:ANIK)

Quest Partners LLC cut its position in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) by 28.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,199 shares of the biotechnology company’s stock after selling 1,276 shares during the period. Quest Partners LLC’s holdings in Anika Therapeutics were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC bought 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 bought a new position in Anika Therapeutics during the 1st quarter worth about $198,000. SG Americas Securities LLC increased its position in Anika Therapeutics by 7.8% during the 1st quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock valued at $219,000 after purchasing an additional 627 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Anika Therapeutics by 34.2% in the 4th quarter. BNP Paribas Financial Markets now owns 19,023 shares of the biotechnology company’s stock valued at $431,000 after purchasing an additional 4,852 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Anika Therapeutics in the 1st quarter worth approximately $733,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ANIK. Stephens reissued an “equal weight” rating and set a $24.00 price objective on shares of Anika Therapeutics in a report on Wednesday, May 29th. Barrington Research reiterated an “outperform” rating and issued a $37.00 price target on shares of Anika Therapeutics in a report on Friday, August 9th.

Anika Therapeutics Stock Up 1.4 %

Shares of Anika Therapeutics stock opened at $25.20 on Wednesday. The company has a market cap of $367.59 million, a P/E ratio of -4.80 and a beta of 0.83. The firm’s 50 day moving average price is $26.11 and its 200-day moving average price is $25.91. Anika Therapeutics, Inc. has a 52-week low of $16.81 and a 52-week high of $29.11.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.24). Anika Therapeutics had a negative net margin of 44.45% and a positive return on equity of 0.94%. The business had revenue of $41.92 million for the quarter, compared to analysts’ expectations of $39.90 million. During the same quarter in the prior year, the company posted ($0.06) EPS. As a group, equities research analysts forecast that Anika Therapeutics, Inc. will post -0.1 EPS for the current fiscal year.

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.