Short Interest in Anika Therapeutics, Inc. (NASDAQ:ANIK) Increases By 5.1%

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 508,900 shares, a growth of 5.1% from the October 31st total of 484,400 shares. Based on an average trading volume of 85,500 shares, the days-to-cover ratio is presently 6.0 days. Currently, 3.6% of the company’s shares are short sold.

Anika Therapeutics Stock Performance

Shares of NASDAQ ANIK opened at $17.56 on Thursday. Anika Therapeutics has a 52-week low of $16.00 and a 52-week high of $29.11. The company’s 50 day moving average price is $21.02 and its 200-day moving average price is $24.19. The company has a market capitalization of $257.25 million, a P/E ratio of -2.64 and a beta of 0.89.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ANIK. Barrington Research reduced their target price on shares of Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com downgraded shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ANIK. Eastern Bank acquired a new position in shares of Anika Therapeutics during the 3rd quarter valued at $28,000. Quest Partners LLC lifted its position in shares of Anika Therapeutics by 115.8% during the 3rd quarter. Quest Partners LLC now owns 6,904 shares of the biotechnology company’s stock valued at $171,000 after acquiring an additional 3,705 shares during the period. Atria Investments Inc acquired a new position in shares of Anika Therapeutics during the 3rd quarter valued at $218,000. SG Americas Securities LLC lifted its position in shares of Anika Therapeutics by 43.1% during the 3rd quarter. SG Americas Securities LLC now owns 9,485 shares of the biotechnology company’s stock valued at $234,000 after acquiring an additional 2,858 shares during the period. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Anika Therapeutics during the 3rd quarter valued at $238,000. Institutional investors and hedge funds 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.