Cerity Partners LLC Takes Position in Anika Therapeutics Inc. (NASDAQ:ANIK)

Cerity Partners LLC purchased a new stake in Anika Therapeutics Inc. (NASDAQ:ANIK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,442 shares of the biotechnology company's stock, valued at approximately $443,000. Cerity Partners LLC owned approximately 0.21% of Anika Therapeutics at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Alta Fundamental Advisers LLC raised its position in Anika Therapeutics by 136.6% in the fourth quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company's stock valued at $11,529,000 after purchasing an additional 404,350 shares during the period. Boothbay Fund Management LLC raised its position in Anika Therapeutics by 5.1% in the fourth quarter. Boothbay Fund Management LLC now owns 529,503 shares of the biotechnology company's stock valued at $8,716,000 after purchasing an additional 25,665 shares during the period. Stonepine Capital Management LLC raised its position in Anika Therapeutics by 25.8% in the fourth quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company's stock valued at $3,921,000 after purchasing an additional 48,914 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Anika Therapeutics in the fourth quarter valued at $1,958,000. Finally, Envestnet Asset Management Inc. raised its position in Anika Therapeutics by 38.4% in the first quarter. Envestnet Asset Management Inc. now owns 95,634 shares of the biotechnology company's stock valued at $1,437,000 after purchasing an additional 26,557 shares during the period. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Anika Therapeutics Stock Performance

Shares of ANIK stock opened at $11.50 on Friday. The stock's 50-day moving average is $11.21 and its two-hundred day moving average is $14.07. The firm has a market cap of $164.92 million, a price-to-earnings ratio of -2.96 and a beta of 0.64. Anika Therapeutics Inc. has a 1 year low of $10.47 and a 1 year high of $28.58.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. B. Riley assumed coverage on Anika Therapeutics in a research report on Thursday, April 17th. They set a "buy" rating and a $21.00 price target for the company. Wall Street Zen lowered Anika Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Barrington Research lowered their price target on Anika Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, May 12th.

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.

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