Anika Therapeutics Inc. $ANIK Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has increased its stake in Anika Therapeutics by 13.4% during the 1st quarter, bringing their total holdings to 539,614 shares valued at approximately $8.1 million.
• Institutional investors control approximately 91.53% of Anika Therapeutics' stock, with other significant stake changes noted during the same period.
• Analysts have reduced the price target for Anika Therapeutics from $19.00 to $15.00, though the stock retains a consensus rating of "Strong Buy" with a price target of $18.00.

Acadian Asset Management LLC lifted its holdings in shares of Anika Therapeutics Inc. (NASDAQ:ANIK - Free Report) by 13.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 539,614 shares of the biotechnology company's stock after purchasing an additional 63,901 shares during the quarter. Acadian Asset Management LLC owned about 3.76% of Anika Therapeutics worth $8,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in Anika Therapeutics by 4,714.3% during the 1st quarter. GAMMA Investing LLC now owns 6,403 shares of the biotechnology company's stock worth $96,000 after acquiring an additional 6,270 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Anika Therapeutics during the 4th quarter worth about $137,000. Cetera Investment Advisers acquired a new position in Anika Therapeutics during the 1st quarter worth about $152,000. Cubist Systematic Strategies LLC lifted its stake in Anika Therapeutics by 64.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 11,990 shares of the biotechnology company's stock worth $197,000 after acquiring an additional 4,682 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in Anika Therapeutics during the 1st quarter worth about $181,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Anika Therapeutics Price Performance

Shares of NASDAQ ANIK traded down $0.02 during midday trading on Monday, hitting $8.65. 134,140 shares of the company's stock were exchanged, compared to its average volume of 94,719. Anika Therapeutics Inc. has a twelve month low of $7.87 and a twelve month high of $26.00. The company has a market cap of $124.73 million, a PE ratio of -2.08 and a beta of 0.63. The firm's fifty day simple moving average is $9.55 and its 200-day simple moving average is $12.00.

Analysts Set New Price Targets

Separately, Barrington Research decreased their target price on Anika Therapeutics from $19.00 to $15.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and a consensus target price of $18.00.

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.