Man Group plc Takes Position in Anika Therapeutics Inc. $ANIK

Key Points

• Man Group plc acquired 140,712 Anika Therapeutics shares worth approximately $2.06 million, giving it a 1.05% stake. Institutional investors collectively own 91.53% of ANIK.
• Analyst sentiment is generally positive: MarketBeat lists a “Moderate Buy” consensus with a $21.00 price target, although Weiss Ratings maintained a “sell” rating.
• Anika reported quarterly revenue of $32.61 million and earnings of $0.42 per share, beating estimates of $29.21 million and $0.03, respectively. Shares opened at $21.11, near the company’s 52-week high of $22.88.

Man Group plc purchased a new stake in Anika Therapeutics Inc. (NASDAQ:ANIK - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 140,712 shares of the biotechnology company's stock, valued at approximately $2,059,000. Man Group plc owned 1.05% of Anika Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in Anika Therapeutics during the 1st quarter worth $181,000. Cetera Investment Advisers lifted its holdings in shares of Anika Therapeutics by 93.1% in the 2nd quarter. Cetera Investment Advisers now owns 19,509 shares of the biotechnology company's stock worth $206,000 after buying an additional 9,407 shares during the period. American Century Companies Inc. lifted its holdings in shares of Anika Therapeutics by 32.8% in the 2nd quarter. American Century Companies Inc. now owns 44,161 shares of the biotechnology company's stock worth $467,000 after buying an additional 10,909 shares during the period. Marshall Wace LLP bought a new position in shares of Anika Therapeutics during the 2nd quarter worth $241,000. Finally, Jane Street Group LLC grew its position in shares of Anika Therapeutics by 31.6% during the 2nd quarter. Jane Street Group LLC now owns 22,871 shares of the biotechnology company's stock worth $242,000 after buying an additional 5,488 shares in the last quarter. Institutional investors own 91.53% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on ANIK shares. Wall Street Zen upgraded shares of Anika Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Zacks Research raised shares of Anika Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. B. Riley Financial increased their target price on Anika Therapeutics from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Barrington Research set a $21.00 price target on Anika Therapeutics in a research report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Anika Therapeutics in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Anika Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Anika Therapeutics Price Performance

Shares of ANIK stock opened at $21.11 on Wednesday. The stock's fifty day moving average price is $18.01 and its 200 day moving average price is $15.55. Anika Therapeutics Inc. has a 1-year low of $8.37 and a 1-year high of $22.88. The company has a market cap of $282.45 million, a price-to-earnings ratio of -78.18, a price-to-earnings-growth ratio of 14.91 and a beta of 0.20.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.39. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%.The company had revenue of $32.61 million during the quarter, compared to analysts' expectations of $29.21 million. As a group, equities research analysts anticipate that Anika Therapeutics Inc. will post 0.14 earnings per share for the current year.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika's proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company's core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.

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