State Street Corp Sells 7,667 Shares of Anika Therapeutics, Inc. (NASDAQ:ANIK)

State Street Corp cut its position in Anika Therapeutics, Inc. (NASDAQ:ANIK) by 2.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 305,225 shares of the biotechnology company’s stock after selling 7,667 shares during the quarter. State Street Corp owned approximately 2.08% of Anika Therapeutics worth $7,539,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stonepine Capital Management LLC raised its stake in shares of Anika Therapeutics by 171.4% during the 2nd quarter. Stonepine Capital Management LLC now owns 165,397 shares of the biotechnology company’s stock worth $4,190,000 after acquiring an additional 104,448 shares in the last quarter. Riverwater Partners LLC increased its position in shares of Anika Therapeutics by 539.1% during the third quarter. Riverwater Partners LLC now owns 101,996 shares of the biotechnology company’s stock worth $2,552,000 after purchasing an additional 86,037 shares in the last quarter. Meros Investment Management LP lifted its holdings in shares of Anika Therapeutics by 25.0% during the 2nd quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock valued at $5,388,000 after purchasing an additional 42,587 shares during the last quarter. Renaissance Technologies LLC boosted its position 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 worth $15,153,000 after purchasing an additional 38,412 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Anika Therapeutics by 5.1% during the 2nd quarter. Acadian Asset Management LLC now owns 442,944 shares of the biotechnology company’s stock valued at $11,217,000 after buying an additional 21,517 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barrington Research cut their price objective 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 note on Monday, November 4th.

Anika Therapeutics Stock Down 2.5 %

Anika Therapeutics stock opened at $16.24 on Friday. The stock has a 50-day moving average price of $18.26 and a 200 day moving average price of $23.17. The company has a market capitalization of $237.85 million, a price-to-earnings ratio of -2.44 and a beta of 0.89. Anika Therapeutics, Inc. has a 52 week low of $15.82 and a 52 week high of $29.11.

About Anika Therapeutics

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.