Meros Investment Management LP Sells 59,620 Shares of Anika Therapeutics, Inc. (NASDAQ:ANIK)

Meros Investment Management LP lessened its holdings in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) by 25.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 177,675 shares of the biotechnology company's stock after selling 59,620 shares during the period. Meros Investment Management LP owned 1.21% of Anika Therapeutics worth $2,925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Connors Investor Services Inc. boosted its stake in Anika Therapeutics by 8.0% during the 4th quarter. Connors Investor Services Inc. now owns 11,560 shares of the biotechnology company's stock valued at $190,000 after purchasing an additional 861 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Anika Therapeutics by 9.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 11,700 shares of the biotechnology company's stock valued at $193,000 after buying an additional 980 shares in the last quarter. Wellington Management Group LLP grew its holdings in Anika Therapeutics by 3.7% during the fourth quarter. Wellington Management Group LLP now owns 39,785 shares of the biotechnology company's stock worth $655,000 after acquiring an additional 1,407 shares during the period. R Squared Ltd bought a new stake in Anika Therapeutics in the fourth quarter worth about $27,000. Finally, Wells Fargo & Company MN lifted its holdings 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 acquiring an additional 1,759 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company's stock.

Analysts Set New Price Targets

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

Anika Therapeutics Stock Down 0.4%

Shares of ANIK stock traded down $0.05 during trading hours on Friday, reaching $12.19. 75,082 shares of the stock traded hands, compared to its average volume of 70,170. The firm has a market capitalization of $174.82 million, a PE ratio of -1.83 and a beta of 0.76. Anika Therapeutics, Inc. has a 1-year low of $11.11 and a 1-year high of $29.12. The business has a fifty day moving average price of $14.41 and a 200 day moving average price of $16.19.

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

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.