Cove Street Capital LLC Invests $1.13 Million in Anika Therapeutics Inc. $ANIK

Key Points

• Cove Street Capital LLC has acquired a new stake in Anika Therapeutics, purchasing 74,902 shares valued at approximately $1.1 million, making it the firm's 24th largest holding.
• Anika Therapeutics shares currently have a market cap of $129.92 million and have recently traded down by 1.5%, with a current price of $9.01.
• Wall Street analysts have shown mixed views, with one firm downgrading their rating and targeting a price decrease from $19.00 to $15.00, while the stock maintains an average rating of "Strong Buy" with a consensus price target of $18.00.

Cove Street Capital LLC acquired a new stake in shares of Anika Therapeutics Inc. (NASDAQ:ANIK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 74,902 shares of the biotechnology company's stock, valued at approximately $1,126,000. Anika Therapeutics comprises 1.8% of Cove Street Capital LLC's holdings, making the stock its 24th largest holding. Cove Street Capital LLC owned 0.52% of Anika Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Anika Therapeutics by 3.7% in the fourth quarter. Wellington Management Group LLP now owns 39,785 shares of the biotechnology company's stock worth $655,000 after purchasing an additional 1,407 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Anika Therapeutics by 31.1% during the fourth 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 last quarter. Barclays PLC grew its holdings in Anika Therapeutics by 6.4% during the 4th quarter. Barclays PLC now owns 34,757 shares of the biotechnology company's stock valued at $571,000 after buying an additional 2,093 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Anika Therapeutics by 412.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,890 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 2,326 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Anika Therapeutics in the 4th quarter worth approximately $42,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barrington Research lowered their target price on Anika Therapeutics from $19.00 to $15.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of Anika Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, Anika Therapeutics currently has a consensus rating of "Strong Buy" and an average price target of $18.00.

Anika Therapeutics Stock Performance

NASDAQ ANIK remained flat at $8.94 during trading hours on Monday. 72,979 shares of the company's stock were exchanged, compared to its average volume of 89,238. The company has a market cap of $128.91 million, a PE ratio of -2.15 and a beta of 0.63. The company has a 50 day moving average of $9.82 and a 200-day moving average of $12.37. Anika Therapeutics Inc. has a 1 year low of $7.87 and a 1 year high of $26.00.

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.