Isthmus Partners LLC cut its holdings in Anika Therapeutics Inc. (NASDAQ:ANIK) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,266 shares of the biotechnology company’s stock after selling 62 shares during the quarter. Isthmus Partners LLC owned about 0.11% of Anika Therapeutics worth $803,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in Anika Therapeutics by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 2,872 shares of the biotechnology company’s stock valued at $141,000 after acquiring an additional 1,272 shares during the last quarter. Mason Street Advisors LLC boosted its stake in Anika Therapeutics by 7.1% in the first quarter. Mason Street Advisors LLC now owns 3,423 shares of the biotechnology company’s stock valued at $149,000 after acquiring an additional 228 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Anika Therapeutics by 3.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,450 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 100 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Anika Therapeutics by 68.4% in the first quarter. Victory Capital Management Inc. now owns 3,452 shares of the biotechnology company’s stock valued at $150,000 after acquiring an additional 1,402 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Anika Therapeutics by 3.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,315 shares of the biotechnology company’s stock valued at $213,000 after acquiring an additional 126 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Anika Therapeutics Inc. (NASDAQ:ANIK) traded down 0.20% during midday trading on Tuesday, reaching $56.00. 9,384 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $53.30 and its 200 day moving average price is $47.76. Anika Therapeutics Inc. has a 1-year low of $41.38 and a 1-year high of $56.85. The firm has a market cap of $820.85 million, a price-to-earnings ratio of 24.88 and a beta of 1.65.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Wednesday, July 26th. The biotechnology company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.32. Anika Therapeutics had a net margin of 30.44% and a return on equity of 14.88%. The company had revenue of $33.50 million for the quarter, compared to analyst estimates of $27.20 million. During the same period in the prior year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 25.9% on a year-over-year basis. Equities research analysts anticipate that Anika Therapeutics Inc. will post $2.20 EPS for the current year.

In other news, CEO Charles H. Sherwood sold 63,799 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $50.79, for a total value of $3,240,351.21. Following the sale, the chief executive officer now directly owns 174,705 shares of the company’s stock, valued at approximately $8,873,266.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Charles H. Sherwood sold 14,201 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $50.03, for a total transaction of $710,476.03. Following the completion of the sale, the chief executive officer now directly owns 246,740 shares in the company, valued at $12,344,402.20. The disclosure for this sale can be found here. Corporate insiders own 6.57% of the company’s stock.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th.

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Anika Therapeutics Company Profile

Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.

Institutional Ownership by Quarter for Anika Therapeutics (NASDAQ:ANIK)

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