Jacobs Levy Equity Management Inc. Makes New $1.96 Million Investment in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Jacobs Levy Equity Management Inc. purchased a new position in Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 118,976 shares of the biotechnology company's stock, valued at approximately $1,958,000. Jacobs Levy Equity Management Inc. owned approximately 0.81% of Anika Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its stake in Anika Therapeutics by 64.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 11,990 shares of the biotechnology company's stock worth $197,000 after purchasing an additional 4,682 shares in the last quarter. Bank of America Corp DE raised its holdings in Anika Therapeutics by 10.9% in the 4th quarter. Bank of America Corp DE now owns 38,218 shares of the biotechnology company's stock worth $629,000 after acquiring an additional 3,758 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Anika Therapeutics by 408.6% in the 4th quarter. BNP Paribas Financial Markets now owns 14,448 shares of the biotechnology company's stock worth $238,000 after acquiring an additional 11,607 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Anika Therapeutics by 81.3% in the 4th quarter. Ameriprise Financial Inc. now owns 46,093 shares of the biotechnology company's stock valued at $759,000 after acquiring an additional 20,663 shares in the last quarter. Finally, Alta Fundamental Advisers LLC boosted its stake in Anika Therapeutics by 136.6% during the 4th 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 last quarter. Institutional investors own 91.53% of the company's stock.

Anika Therapeutics Stock Performance

Shares of NASDAQ ANIK traded down $0.54 during midday trading on Wednesday, hitting $11.42. 15,317 shares of the stock traded hands, compared to its average volume of 70,204. The firm has a market capitalization of $163.73 million, a P/E ratio of -1.72 and a beta of 0.76. Anika Therapeutics, Inc. has a one year low of $11.11 and a one year high of $29.12. The firm has a 50-day moving average of $14.15 and a two-hundred day moving average of $15.98.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.13). The firm had revenue of $30.60 million for the quarter, compared to analysts' expectations of $29.00 million. Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. Equities analysts forecast that Anika Therapeutics, Inc. will post -0.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ANIK shares. StockNews.com cut Anika Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. B. Riley assumed coverage on Anika Therapeutics in a research report on Thursday, April 17th. They issued a "buy" rating and a $21.00 target price for the company. Finally, Barrington Research lowered their target price on shares of Anika Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note 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.