Alta Fundamental Advisers LLC Increases Stake in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Alta Fundamental Advisers LLC grew its position in Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) by 136.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 700,432 shares of the biotechnology company's stock after buying an additional 404,350 shares during the period. Anika Therapeutics makes up about 3.4% of Alta Fundamental Advisers LLC's investment portfolio, making the stock its 12th largest holding. Alta Fundamental Advisers LLC owned about 4.78% of Anika Therapeutics worth $11,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boothbay Fund Management LLC lifted its position in Anika Therapeutics by 5.1% in the 4th quarter. Boothbay Fund Management LLC now owns 529,503 shares of the biotechnology company's stock valued at $8,716,000 after acquiring an additional 25,665 shares in the last quarter. Capital Management Corp VA raised its stake in shares of Anika Therapeutics by 12.1% in the fourth quarter. Capital Management Corp VA now owns 325,545 shares of the biotechnology company's stock worth $5,358,000 after purchasing an additional 35,195 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Anika Therapeutics by 431.9% during the fourth quarter. JPMorgan Chase & Co. now owns 82,491 shares of the biotechnology company's stock valued at $1,358,000 after purchasing an additional 66,982 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Anika Therapeutics by 20.8% during the fourth quarter. Bank of New York Mellon Corp now owns 50,529 shares of the biotechnology company's stock valued at $832,000 after buying an additional 8,711 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Anika Therapeutics by 3.7% in the 4th quarter. Wellington Management Group LLP now owns 39,785 shares of the biotechnology company's stock worth $655,000 after buying an additional 1,407 shares in the last quarter. Institutional investors own 91.53% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ANIK. StockNews.com upgraded shares of Anika Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. B. Riley started coverage on shares of Anika Therapeutics in a research report on Thursday, April 17th. They set a "buy" rating and a $21.00 price objective on the stock. Finally, Barrington Research cut their target price on shares of Anika Therapeutics from $25.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th.

Anika Therapeutics Stock Up 2.7 %

Anika Therapeutics stock opened at $14.85 on Friday. The business has a 50-day simple moving average of $15.14 and a two-hundred day simple moving average of $16.92. Anika Therapeutics, Inc. has a 52-week low of $12.83 and a 52-week high of $29.12. The company has a market cap of $212.96 million, a P/E ratio of -2.23 and a beta of 0.82.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last announced its earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.13). The business had revenue of $30.60 million for the quarter, compared to analysts' expectations of $29.00 million. Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. Research analysts anticipate that Anika Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

Anika Therapeutics 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.

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