Assenagon Asset Management S.A. Raises Holdings in Anika Therapeutics Inc. $ANIK

Assenagon Asset Management S.A. boosted its stake in Anika Therapeutics Inc. (NASDAQ:ANIK) by 268.7% in the 1st quarter, Holdings Channel reports. The firm owned 46,586 shares of the biotechnology company’s stock after acquiring an additional 33,951 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Anika Therapeutics were worth $675,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new stake in Anika Therapeutics during the third quarter valued at about $71,000. CWM LLC lifted its holdings in Anika Therapeutics by 14.5% in the 4th quarter. CWM LLC now owns 8,537 shares of the biotechnology company’s stock worth $82,000 after buying an additional 1,080 shares during the period. Occudo Quantitative Strategies LP bought a new stake in Anika Therapeutics in the third quarter valued at $95,000. Ieq Capital LLC bought a new stake in shares of Anika Therapeutics during the 4th quarter valued at about $97,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Anika Therapeutics during the 3rd quarter worth approximately $107,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Anika Therapeutics

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

Anika Therapeutics Stock Up 1.2%

Shares of ANIK opened at $15.36 on Friday. Anika Therapeutics Inc. has a 52 week low of $7.87 and a 52 week high of $16.24. The stock has a market cap of $204.44 million, a price-to-earnings ratio of -19.44 and a beta of 0.23. The business has a 50-day simple moving average of $14.74 and a two-hundred day simple moving average of $12.85.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen cut Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anika Therapeutics in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.00.

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.