Schwab Charles Investment Management Inc. raised its holdings in Anika Therapeutics Inc. (NASDAQ:ANIK) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,279 shares of the biotechnology company’s stock after buying an additional 5,436 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.48% of Anika Therapeutics worth $3,468,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ANIK. State of Alaska Department of Revenue boosted its position in Anika Therapeutics by 79.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,872 shares of the biotechnology company’s stock valued at $141,000 after buying an additional 1,272 shares during the period. Mason Street Advisors LLC boosted its position in Anika Therapeutics by 7.1% in the 1st quarter. Mason Street Advisors LLC now owns 3,423 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 228 shares during the period. Victory Capital Management Inc. boosted its position in Anika Therapeutics by 68.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,452 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 1,402 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in Anika Therapeutics by 3.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,450 shares of the biotechnology company’s stock valued at $170,000 after buying an additional 100 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new position in Anika Therapeutics in the 1st quarter valued at approximately $204,000. 84.32% of the stock is owned by institutional investors.

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Shares of Anika Therapeutics Inc. (NASDAQ ANIK) opened at 59.47 on Thursday. The stock’s 50 day moving average is $57.18 and its 200 day moving average is $50.12. The stock has a market capitalization of $871.71 million, a PE ratio of 26.42 and a beta of 1.66. Anika Therapeutics Inc. has a 52-week low of $41.38 and a 52-week high of $60.27.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, July 26th. The biotechnology company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.32. The business had revenue of $33.50 million during the quarter, compared to the consensus estimate of $27.20 million. Anika Therapeutics had a net margin of 30.44% and a return on equity of 14.88%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Equities research analysts expect that Anika Therapeutics Inc. will post $2.20 earnings per share for the current fiscal year.

In other news, CEO Charles H. Sherwood sold 3,293 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $60.04, for a total value of $197,711.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $3,240,351.21. Following the completion of the transaction, the chief executive officer now owns 174,705 shares of the company’s stock, valued at $8,873,266.95. The disclosure for this sale can be found here. Insiders sold 74,216 shares of company stock valued at $3,866,073 over the last 90 days. Insiders own 6.57% of the company’s stock.

Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Anika Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th.

Anika Therapeutics 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.

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

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