Trigran Investments Inc. Sells 1,452,815 Shares of Anika Therapeutics Inc. $ANIK

Trigran Investments Inc. decreased its holdings in shares of Anika Therapeutics Inc. (NASDAQ:ANIK) by 89.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 168,400 shares of the biotechnology company’s stock after selling 1,452,815 shares during the quarter. Anika Therapeutics makes up approximately 0.3% of Trigran Investments Inc.’s holdings, making the stock its 16th largest holding. Trigran Investments Inc.’s holdings in Anika Therapeutics were worth $1,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ANIK. Opaleye Management Inc. raised its position in shares of Anika Therapeutics by 49.1% during the 2nd quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company’s stock valued at $6,229,000 after acquiring an additional 193,797 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Anika Therapeutics by 153.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,926 shares of the biotechnology company’s stock valued at $1,585,000 after acquiring an additional 99,951 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Anika Therapeutics by 78.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company’s stock valued at $1,880,000 after acquiring an additional 85,771 shares during the last quarter. Jane Street Group LLC raised its position in shares of Anika Therapeutics by 171.0% during the 4th quarter. Jane Street Group LLC now owns 134,768 shares of the biotechnology company’s stock valued at $1,295,000 after acquiring an additional 85,029 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Anika Therapeutics by 192.4% during the 4th quarter. GSA Capital Partners LLP now owns 122,062 shares of the biotechnology company’s stock valued at $1,173,000 after acquiring an additional 80,319 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Barrington Research upped their target price on shares of Anika Therapeutics from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Wall Street Zen cut shares of Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Anika Therapeutics currently has an average rating of “Hold” and a consensus target price of $17.00.

Anika Therapeutics Stock Performance

ANIK stock opened at $14.72 on Monday. The business’s 50-day moving average price is $14.88 and its two-hundred day moving average price is $12.36. The firm has a market cap of $195.92 million, a PE ratio of -18.63 and a beta of 0.23. Anika Therapeutics Inc. has a 1-year low of $7.87 and a 1-year high of $16.24.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.34. The firm had revenue of $29.61 million for the quarter, compared to analyst estimates of $28.14 million. Anika Therapeutics had a negative return on equity of 5.90% and a negative net margin of 9.52%. On average, analysts forecast that Anika Therapeutics Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In other Anika Therapeutics news, CEO Stephen D. Griffin bought 12,200 shares of Anika Therapeutics stock in a transaction on Thursday, April 30th. The shares were purchased at an average cost of $12.29 per share, for a total transaction of $149,938.00. Following the completion of the acquisition, the chief executive officer owned 36,163 shares in the company, valued at approximately $444,443.27. The trade was a 50.91% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Henneman III bought 5,000 shares of Anika Therapeutics stock in a transaction on Friday, May 1st. The shares were acquired at an average price of $14.66 per share, for a total transaction of $73,300.00. Following the completion of the acquisition, the director owned 54,871 shares of the company’s stock, valued at approximately $804,408.86. This represents a 10.03% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 12.08% of the company’s stock.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.