Capital Management Corp VA Acquires 79,185 Shares of Anika Therapeutics Inc. $ANIK

Key Points

• Capital Management Corp VA increased its stake in Anika Therapeutics by 24% during Q2, acquiring an additional 79,185 shares, bringing its total ownership to 408,845 shares valued at $4.3 million.
• Analysts have mixed opinions on Anika Therapeutics, with one "Strong Buy," one "Buy," and one "Sell" rating; the average target price for the stock is $18.00.
• Anika Therapeutics shares are currently trading at $9.15, significantly below its 12-month high of $25.63 and with a market capitalization of $131.92 million.

Capital Management Corp VA boosted its stake in shares of Anika Therapeutics Inc. (NASDAQ:ANIK - Free Report) by 24.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 408,845 shares of the biotechnology company's stock after buying an additional 79,185 shares during the period. Capital Management Corp VA owned 2.85% of Anika Therapeutics worth $4,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Acadian Asset Management LLC raised its position in shares of Anika Therapeutics by 13.4% in the 1st quarter. Acadian Asset Management LLC now owns 539,614 shares of the biotechnology company's stock worth $8,107,000 after acquiring an additional 63,901 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Anika Therapeutics by 57.1% during the first quarter. HighTower Advisors LLC now owns 20,971 shares of the biotechnology company's stock valued at $315,000 after buying an additional 7,618 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Anika Therapeutics in the 1st quarter valued at about $443,000. Envestnet Asset Management Inc. grew its position in shares of Anika Therapeutics by 38.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 95,634 shares of the biotechnology company's stock worth $1,437,000 after buying an additional 26,557 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Anika Therapeutics by 9.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 149,935 shares of the biotechnology company's stock worth $2,254,000 after acquiring an additional 12,473 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Anika Therapeutics in a research report on Wednesday, October 8th. Barrington Research reiterated an "outperform" rating and set a $15.00 price objective on shares of Anika Therapeutics in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $18.00.

Anika Therapeutics Trading Up 0.5%

Shares of Anika Therapeutics stock opened at $9.15 on Wednesday. The firm's 50 day simple moving average is $8.94 and its two-hundred day simple moving average is $11.00. The firm has a market capitalization of $131.92 million, a price-to-earnings ratio of -2.20 and a beta of 0.62. Anika Therapeutics Inc. has a 12-month low of $7.87 and a 12-month high of $25.63.

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.

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