Cerity Partners LLC Buys New Stake in Anika Therapeutics Inc. (NASDAQ:ANIK)

Key Points

• Cerity Partners LLC has purchased 29,442 shares of Anika Therapeutics, valued at approximately $443,000, representing a new stake in the biotechnology company.
• Anika Therapeutics' stock currently has a market cap of $164.92 million, with its 1-year trading range noted between $10.47 and $28.58.
• Recent analyst ratings include a new "buy" rating with a $21.00 price target from B. Riley, while Barrington Research has lowered its price target from $20.00 to $19.00.

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

A number of other hedge funds and other institutional investors have also modified their holdings of ANIK. Aquatic Capital Management LLC purchased a new stake in Anika Therapeutics in the 4th quarter worth about $42,000. Tower Research Capital LLC TRC boosted its holdings in shares of Anika Therapeutics by 412.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,890 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 2,326 shares during the period. GAMMA Investing LLC grew its position in Anika Therapeutics by 4,714.3% during the first quarter. GAMMA Investing LLC now owns 6,403 shares of the biotechnology company's stock valued at $96,000 after purchasing an additional 6,270 shares in the last quarter. Wells Fargo & Company MN increased its stake in Anika Therapeutics by 31.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,421 shares of the biotechnology company's stock valued at $122,000 after buying an additional 1,759 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Anika Therapeutics in the 4th quarter worth approximately $137,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Anika Therapeutics Price Performance

Shares of ANIK stock traded down $3.06 on Wednesday, hitting $8.10. The company's stock had a trading volume of 760,121 shares, compared to its average volume of 116,079. The stock has a market capitalization of $116.15 million, a price-to-earnings ratio of -2.09 and a beta of 0.64. Anika Therapeutics Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $27.85. The firm's fifty day moving average price is $11.11 and its 200-day moving average price is $13.96.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ANIK shares. B. Riley started coverage on shares of Anika Therapeutics in a research note on Thursday, April 17th. They issued a "buy" rating and a $21.00 price target on the stock. Wall Street Zen downgraded Anika Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Barrington Research reduced their price target on Anika Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, May 12th.

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.