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

Alta Fundamental Advisers LLC lifted its holdings in Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) by 136.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 700,432 shares of the biotechnology company's stock after purchasing an additional 404,350 shares during the quarter. Anika Therapeutics accounts for approximately 3.4% of Alta Fundamental Advisers LLC's investment portfolio, making the stock its 12th largest position. Alta Fundamental Advisers LLC owned 4.78% of Anika Therapeutics worth $11,529,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ANIK. Jane Street Group LLC grew its position in Anika Therapeutics by 12.6% in the fourth quarter. Jane Street Group LLC now owns 27,416 shares of the biotechnology company's stock worth $451,000 after acquiring an additional 3,065 shares in the last quarter. Connors Investor Services Inc. increased its position in shares of Anika Therapeutics by 8.0% during the 4th quarter. Connors Investor Services Inc. now owns 11,560 shares of the biotechnology company's stock valued at $190,000 after purchasing an additional 861 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in Anika Therapeutics by 22.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 35,989 shares of the biotechnology company's stock valued at $592,000 after buying an additional 6,647 shares during the period. Aquatic Capital Management LLC bought a new stake in Anika Therapeutics in the fourth quarter worth $42,000. Finally, Boothbay Fund Management LLC boosted its stake in Anika Therapeutics by 5.1% during the fourth quarter. Boothbay Fund Management LLC now owns 529,503 shares of the biotechnology company's stock worth $8,716,000 after buying an additional 25,665 shares during the period. 91.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Anika Therapeutics Price Performance

NASDAQ ANIK traded up $0.38 during trading on Thursday, hitting $14.87. The company's stock had a trading volume of 11,478 shares, compared to its average volume of 69,064. Anika Therapeutics, Inc. has a fifty-two week low of $12.83 and a fifty-two week high of $29.12. The company has a market cap of $213.25 million, a PE ratio of -2.24 and a beta of 0.76. The business's 50 day simple moving average is $14.95 and its 200-day simple moving average is $16.69.

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

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.