HighTower Advisors LLC Acquires 1,615 Shares of Anika Therapeutics, Inc. (NASDAQ:ANIK)

HighTower Advisors LLC lifted its position in Anika Therapeutics, Inc. (NASDAQ:ANIK) by 11.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 15,883 shares of the biotechnology company’s stock after purchasing an additional 1,615 shares during the period. HighTower Advisors LLC’s holdings in Anika Therapeutics were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ANIK. Stonepine Capital Management LLC lifted its position in Anika Therapeutics by 171.4% in the second quarter. Stonepine Capital Management LLC now owns 165,397 shares of the biotechnology company’s stock worth $4,190,000 after purchasing an additional 104,448 shares during the period. Riverwater Partners LLC grew its holdings in shares of Anika Therapeutics by 539.1% in the 3rd quarter. Riverwater Partners LLC now owns 101,996 shares of the biotechnology company’s stock valued at $2,552,000 after buying an additional 86,037 shares during the period. Meros Investment Management LP raised its holdings in Anika Therapeutics by 25.0% during the 2nd quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock worth $5,388,000 after buying an additional 42,587 shares during the period. Renaissance Technologies LLC boosted its position in shares of Anika Therapeutics by 6.9% during the second quarter. Renaissance Technologies LLC now owns 598,229 shares of the biotechnology company’s stock worth $15,153,000 after buying an additional 38,412 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Anika Therapeutics by 5.1% in the 2nd 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 last quarter. 91.53% of the stock is currently owned by institutional investors.

Anika Therapeutics Stock Performance

NASDAQ:ANIK opened at $16.31 on Monday. Anika Therapeutics, Inc. has a fifty-two week low of $15.82 and a fifty-two week high of $29.11. The company has a market cap of $238.88 million, a price-to-earnings ratio of -2.45 and a beta of 0.89. The stock has a fifty day moving average price of $19.14 and a 200-day moving average price of $23.47.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ANIK shares. Barrington Research cut their target price on shares of Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com cut 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.