Anika Therapeutics Inc. $ANIK Stock Sold by Capital Management Corp VA

Key Points

• Capital Management Corp VA reduced its Anika Therapeutics stake by 15.4% in the third quarter, selling 69,038 shares and retaining 379,436 shares valued at approximately $7.46 million. Institutional investors collectively own 91.53% of the company.
• Analyst sentiment is mixed, with ratings ranging from sell to strong buy. The consensus rating is Hold, with an average price target of $22.00.
• Anika Therapeutics shares opened at $19.41 after falling 7.4%; the stock has traded between $9.01 and $22.88 over the past year. The company develops tissue-repair products, including orthopedic hyaluronic-acid treatments for osteoarthritis.

Capital Management Corp VA lessened its holdings in shares of Anika Therapeutics Inc. (NASDAQ:ANIK - Free Report) by 15.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 379,436 shares of the biotechnology company's stock after selling 69,038 shares during the quarter. Capital Management Corp VA owned 2.84% of Anika Therapeutics worth $7,460,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Anika Therapeutics in the second quarter valued at approximately $37,000. Simplicity Wealth LLC purchased a new stake in Anika Therapeutics during the third quarter valued at about $285,000. Blueprint Financial Advisors LLC bought a new position in Anika Therapeutics in the 3rd quarter worth approximately $347,000. Blueprint Investment Partners LLC purchased a new position in shares of Anika Therapeutics in the third quarter valued at $347,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Anika Therapeutics during the second quarter valued at about $274,000. Institutional investors own 91.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. B. Riley Financial started coverage on Anika Therapeutics in a research report on Friday, September 18th. They set a "buy" rating and a $23.00 target price for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Anika Therapeutics in a research note on Monday, September 21st. Wall Street Zen upgraded Anika Therapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Zacks Research downgraded Anika Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Finally, Barrington Research set a $21.00 price objective on shares of Anika Therapeutics in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.00.

Anika Therapeutics Trading Down 7.4%

Shares of NASDAQ ANIK opened at $19.41 on Tuesday. Anika Therapeutics Inc. has a 12-month low of $9.01 and a 12-month high of $22.88. The stock has a market capitalization of $259.71 million, a price-to-earnings ratio of 1,077.50, a P/E/G ratio of 15.39 and a beta of 0.21. The firm's 50-day moving average price is $20.62 and its 200-day moving average price is $16.07.

About Anika Therapeutics

Anika Therapeutics, Inc develops, manufactures and commercializes therapeutic products designed to support tissue protection, healing and repair. The company focuses primarily on orthopedics, with products based in part on hyaluronic acid, a naturally occurring substance found in connective tissue and joint fluid.

Anika's orthopedic portfolio includes Monovisc and Orthovisc, viscosupplementation products used to help relieve pain associated with osteoarthritis of the knee, as well as Cingal, which combines hyaluronic acid with a corticosteroid.

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