Short Interest in Anika Therapeutics, Inc. (NASDAQ:ANIK) Drops By 5.0%

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 639,300 shares, a drop of 5.0% from the September 15th total of 673,300 shares. Based on an average daily trading volume, of 50,200 shares, the days-to-cover ratio is presently 12.7 days. Currently, 4.5% of the company’s stock are short sold.

Anika Therapeutics Stock Performance

Shares of ANIK opened at $25.21 on Thursday. The stock has a 50-day simple moving average of $25.14 and a 200-day simple moving average of $25.83. The stock has a market capitalization of $367.74 million, a PE ratio of -4.80 and a beta of 0.83. Anika Therapeutics has a 1 year low of $18.08 and a 1 year high of $29.11.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.24). The business 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 quarter in the previous year, the firm earned ($0.06) EPS. Analysts predict that Anika Therapeutics will post -0.1 EPS for the current year.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and issued a $37.00 price objective on shares of Anika Therapeutics in a research note on Friday, August 9th.

Institutional Investors Weigh In On Anika Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in Anika Therapeutics by 43.1% during the third quarter. SG Americas Securities LLC now owns 9,485 shares of the biotechnology company’s stock worth $234,000 after purchasing an additional 2,858 shares during the last quarter. Stonepine Capital Management LLC lifted its stake in Anika Therapeutics by 171.4% in the second quarter. Stonepine Capital Management LLC now owns 165,397 shares of the biotechnology company’s stock valued at $4,190,000 after buying an additional 104,448 shares during the last quarter. Ironwood Investment Management LLC lifted its stake in Anika Therapeutics by 109.9% in the second quarter. Ironwood Investment Management LLC now owns 28,704 shares of the biotechnology company’s stock valued at $727,000 after buying an additional 15,032 shares during the last quarter. Meros Investment Management LP lifted its stake in Anika Therapeutics by 25.0% in the second quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock valued at $5,388,000 after buying an additional 42,587 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Anika Therapeutics by 8.1% in the second quarter. AQR Capital Management LLC now owns 107,373 shares of the biotechnology company’s stock valued at $2,720,000 after buying an additional 8,072 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

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.