Anika Therapeutics, Inc. (NASDAQ:ANIK) Sees Significant Decline in Short Interest

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 489,100 shares, a drop of 23.5% from the September 30th total of 639,300 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average trading volume of 49,200 shares, the days-to-cover ratio is presently 9.9 days.

Hedge Funds Weigh In On Anika Therapeutics

A number of large investors have recently bought and sold shares of ANIK. Stonepine Capital Management LLC raised its stake in shares of Anika Therapeutics by 171.4% in the 2nd quarter. Stonepine Capital Management LLC now owns 165,397 shares of the biotechnology company’s stock valued at $4,190,000 after acquiring an additional 104,448 shares during the period. Acadian Asset Management LLC raised its stake in shares of Anika Therapeutics by 25.8% in the 1st quarter. Acadian Asset Management LLC now owns 421,427 shares of the biotechnology company’s stock valued at $10,701,000 after acquiring an additional 86,436 shares during the period. Riverwater Partners LLC raised its stake in shares of Anika Therapeutics by 539.1% in the 3rd quarter. Riverwater Partners LLC now owns 101,996 shares of the biotechnology company’s stock valued at $2,552,000 after acquiring an additional 86,037 shares during the period. Meros Investment Management LP raised its stake in shares of Anika Therapeutics by 25.0% in the 2nd quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock valued at $5,388,000 after acquiring an additional 42,587 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Anika Therapeutics by 6.9% in the 2nd quarter. Renaissance Technologies LLC now owns 598,229 shares of the biotechnology company’s stock valued at $15,153,000 after acquiring an additional 38,412 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and set a $37.00 target price on shares of Anika Therapeutics in a research report on Tuesday, October 22nd.

Anika Therapeutics Price Performance

NASDAQ:ANIK traded down $0.19 during trading hours on Friday, reaching $24.32. 31,893 shares of the company were exchanged, compared to its average volume of 62,276. The firm has a market cap of $354.76 million, a price-to-earnings ratio of -4.63 and a beta of 0.83. Anika Therapeutics has a 52-week low of $18.44 and a 52-week high of $29.11. The stock has a 50 day simple moving average of $25.04 and a 200 day simple moving average of $25.78.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.24). The company had revenue of $41.92 million for the quarter, compared to analysts’ expectations of $39.90 million. Anika Therapeutics had a positive return on equity of 0.94% and a negative net margin of 44.45%. During the same period in the prior year, the business earned ($0.06) EPS. On average, analysts predict that Anika Therapeutics will post -0.1 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.