Stonepine Capital Management LLC Decreases Stock Holdings in Anika Therapeutics Inc. $ANIK

Key Points

• Stonepine Capital Management LLC has sold 31,583 shares of Anika Therapeutics, reducing its stake by 13.3% in the first quarter, while continuing to hold 206,639 shares.
• Institutional investors dominate Anika Therapeutics' share ownership, holding approximately 91.53% of the company's stock, indicating strong institutional support.
• Anika Therapeutics' stock price has seen a recent increase of 6.6%, with a current trading value around $9.65, after previously fluctuating between a 52-week low of $7.87 and a high of $26.48.

Stonepine Capital Management LLC decreased its position in Anika Therapeutics Inc. (NASDAQ:ANIK - Free Report) by 13.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,639 shares of the biotechnology company's stock after selling 31,583 shares during the quarter. Anika Therapeutics makes up 3.1% of Stonepine Capital Management LLC's portfolio, making the stock its 8th biggest position. Stonepine Capital Management LLC owned approximately 1.44% of Anika Therapeutics worth $3,261,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new position in shares of Anika Therapeutics during the fourth quarter valued at $42,000. Tower Research Capital LLC TRC increased 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 valued at $48,000 after acquiring an additional 2,326 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 6,270 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of 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 acquiring an additional 1,759 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Anika Therapeutics during the fourth quarter valued at $137,000. Institutional investors own 91.53% of the company's stock.

Analyst Ratings Changes

ANIK has been the subject of several analyst reports. Wall Street Zen downgraded Anika Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Barrington Research dropped their price objective on Anika Therapeutics from $19.00 to $15.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat.com, Anika Therapeutics currently has a consensus rating of "Strong Buy" and a consensus price target of $18.00.

Anika Therapeutics Stock Down 1.6%

NASDAQ:ANIK traded down $0.15 on Wednesday, hitting $9.18. The stock had a trading volume of 86,923 shares, compared to its average volume of 168,077. Anika Therapeutics Inc. has a 52-week low of $7.87 and a 52-week high of $26.48. The stock has a market cap of $132.38 million, a price-to-earnings ratio of -2.21 and a beta of 0.64. The business's 50-day simple moving average is $10.07 and its two-hundred day simple moving average is $12.86.

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.