Arrowstreet Capital Limited Partnership Trims Holdings in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Arrowstreet Capital Limited Partnership trimmed its position in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) by 45.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,455 shares of the biotechnology company's stock after selling 49,338 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.41% of Anika Therapeutics worth $979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ANIK. Jane Street Group LLC lifted its holdings in shares of Anika Therapeutics by 54.1% during the third quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company's stock valued at $601,000 after purchasing an additional 8,550 shares during the last quarter. HighTower Advisors LLC grew its position in Anika Therapeutics by 11.3% during the 3rd quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company's stock valued at $387,000 after purchasing an additional 1,615 shares during the last quarter. Barclays PLC raised its holdings in Anika Therapeutics by 66.6% in the third quarter. Barclays PLC now owns 32,664 shares of the biotechnology company's stock worth $806,000 after buying an additional 13,054 shares during the last quarter. FMR LLC grew its holdings in shares of Anika Therapeutics by 25.3% during the third quarter. FMR LLC now owns 24,721 shares of the biotechnology company's stock valued at $611,000 after buying an additional 4,996 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Anika Therapeutics by 20.8% in the 4th quarter. Bank of New York Mellon Corp now owns 50,529 shares of the biotechnology company's stock worth $832,000 after acquiring an additional 8,711 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Anika Therapeutics Stock Performance

Shares of NASDAQ ANIK traded up $0.31 during midday trading on Thursday, hitting $13.78. 35,642 shares of the company's stock traded hands, compared to its average volume of 69,205. The firm has a fifty day moving average of $15.94 and a 200 day moving average of $17.80. Anika Therapeutics, Inc. has a 1 year low of $12.83 and a 1 year high of $29.12. The stock has a market capitalization of $195.35 million, a price-to-earnings ratio of -2.07 and a beta of 0.82.

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

Analyst Ratings Changes

A number of research firms have commented on ANIK. StockNews.com raised Anika Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. B. Riley assumed coverage on shares of Anika Therapeutics in a report on Thursday. They set a "buy" rating and a $21.00 price target on the stock. Finally, Barrington Research lowered their price objective on shares of Anika Therapeutics from $25.00 to $20.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th.

About Anika Therapeutics

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.