Trigran Investments Inc. Has $33.28 Million Position in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Trigran Investments Inc. trimmed its holdings in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,021,778 shares of the biotechnology company's stock after selling 102,682 shares during the quarter. Anika Therapeutics comprises about 3.8% of Trigran Investments Inc.'s investment portfolio, making the stock its 13th largest holding. Trigran Investments Inc. owned approximately 13.80% of Anika Therapeutics worth $33,278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ANIK. Jane Street Group LLC increased its holdings in shares of Anika Therapeutics by 54.1% during the third quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company's stock worth $601,000 after purchasing an additional 8,550 shares during the period. HighTower Advisors LLC grew its position in Anika Therapeutics by 11.3% during the third quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company's stock worth $387,000 after buying an additional 1,615 shares in the last quarter. Barclays PLC increased its stake in Anika Therapeutics by 66.6% during the 3rd quarter. Barclays PLC now owns 32,664 shares of the biotechnology company's stock worth $806,000 after acquiring an additional 13,054 shares during the period. Wellington Management Group LLP raised its holdings in Anika Therapeutics by 3.7% in the 4th quarter. Wellington Management Group LLP now owns 39,785 shares of the biotechnology company's stock valued at $655,000 after acquiring an additional 1,407 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Anika Therapeutics by 9.3% during the 4th quarter. American Century Companies Inc. now owns 29,891 shares of the biotechnology company's stock valued at $492,000 after acquiring an additional 2,553 shares during the period. Institutional investors and hedge funds own 91.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ANIK. StockNews.com upgraded Anika Therapeutics from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. B. Riley assumed coverage on shares of Anika Therapeutics in a report on Thursday, April 17th. They issued a "buy" rating and a $21.00 target price on the stock. Finally, Barrington Research cut their price target on shares of Anika Therapeutics from $25.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, March 13th.

Anika Therapeutics Price Performance

NASDAQ:ANIK traded down $0.06 during trading hours on Friday, hitting $14.32. The company's stock had a trading volume of 11,467 shares, compared to its average volume of 69,385. Anika Therapeutics, Inc. has a twelve month low of $12.83 and a twelve month high of $29.12. The stock has a fifty day simple moving average of $15.51 and a 200-day simple moving average of $17.36. The company has a market capitalization of $203.00 million, a P/E ratio of -2.15 and a beta of 0.82.

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 for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.13). The company had revenue of $30.60 million during the quarter, compared to analyst estimates of $29.00 million. Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. On average, equities analysts predict that Anika Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

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.