Acadian Asset Management LLC Has $8.11 Million Stake in Anika Therapeutics Inc. $ANIK

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 position 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 disclosure with the Securities & Exchange Commission. The fund owned 539,614 shares of the biotechnology company's stock after acquiring an additional 63,901 shares during the quarter. Acadian Asset Management LLC owned approximately 3.76% of Anika Therapeutics worth $8,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ANIK. Jacobs Levy Equity Management Inc. bought a new stake in shares of Anika Therapeutics during the fourth quarter worth $1,958,000. Cove Street Capital LLC bought a new stake in shares of Anika Therapeutics during the first quarter worth $1,126,000. Stonepine Capital Management LLC raised its position in shares of Anika Therapeutics by 25.8% during the fourth quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company's stock worth $3,921,000 after acquiring an additional 48,914 shares during the last quarter. Nuveen LLC bought a new stake in shares of Anika Therapeutics during the first quarter worth $621,000. Finally, Cerity Partners LLC bought a new stake in shares of Anika Therapeutics during the first quarter worth $443,000. Institutional investors own 91.53% of the company's stock.

Anika Therapeutics Stock Up 1.4%

Shares of Anika Therapeutics stock traded up $0.12 during trading on Thursday, reaching $8.78. 50,323 shares of the company were exchanged, compared to its average volume of 89,057. Anika Therapeutics Inc. has a twelve month low of $7.87 and a twelve month high of $25.83. The firm has a market capitalization of $126.59 million, a price-to-earnings ratio of -2.12 and a beta of 0.63. The business has a 50-day moving average price of $9.45 and a 200-day moving average price of $11.95.

Analyst Ratings Changes

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

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.