Quantinno Capital Management LP Acquires 24,277 Shares of Anika Therapeutics Inc. $ANIK

Quantinno Capital Management LP lifted its holdings in shares of Anika Therapeutics Inc. (NASDAQ:ANIK) by 23.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,826 shares of the biotechnology company’s stock after purchasing an additional 24,277 shares during the quarter. Quantinno Capital Management LP owned approximately 0.95% of Anika Therapeutics worth $1,824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Opaleye Management Inc. boosted its holdings in Anika Therapeutics by 49.1% in the second quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company’s stock worth $6,229,000 after purchasing an additional 193,797 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Anika Therapeutics by 153.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 164,926 shares of the biotechnology company’s stock valued at $1,585,000 after buying an additional 99,951 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Anika Therapeutics by 78.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company’s stock worth $1,880,000 after buying an additional 85,771 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Anika Therapeutics by 171.0% in the fourth quarter. Jane Street Group LLC now owns 134,768 shares of the biotechnology company’s stock worth $1,295,000 after buying an additional 85,029 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Anika Therapeutics by 192.4% during the 4th quarter. GSA Capital Partners LLP now owns 122,062 shares of the biotechnology company’s stock worth $1,173,000 after acquiring an additional 80,319 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Stock Performance

Anika Therapeutics stock opened at $21.23 on Wednesday. The business’s 50-day simple moving average is $15.96 and its 200-day simple moving average is $14.32. The firm has a market capitalization of $284.06 million, a PE ratio of -78.63, a PEG ratio of 14.77 and a beta of 0.20. Anika Therapeutics Inc. has a 52 week low of $8.15 and a 52 week high of $22.88.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.39. The firm had revenue of $32.61 million during the quarter, compared to the consensus estimate of $29.21 million. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%. Research analysts forecast that Anika Therapeutics Inc. will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ANIK shares. Zacks Research upgraded Anika Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Anika Therapeutics in a research report on Wednesday, June 24th. Barrington Research set a $21.00 price target on shares of Anika Therapeutics in a research report on Thursday, July 30th. Finally, B. Riley Financial boosted their price objective on shares of Anika Therapeutics from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Anika Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Anika Therapeutics Profile

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.