Anika Therapeutics, Inc. (NASDAQ:ANIK) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its stake in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) by 4.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 324,964 shares of the biotechnology company’s stock after selling 16,104 shares during the quarter. Geode Capital Management LLC owned about 2.22% of Anika Therapeutics worth $8,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANIK. Stonepine Capital Management LLC raised its holdings 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 during the period. Riverwater Partners LLC increased its position in 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 during the last quarter. Meros Investment Management LP raised its stake in Anika Therapeutics by 25.0% during the second quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock worth $5,388,000 after purchasing an additional 42,587 shares during the period. Renaissance Technologies LLC boosted its holdings in Anika Therapeutics by 6.9% in the 2nd quarter. Renaissance Technologies LLC now owns 598,229 shares of the biotechnology company’s stock valued at $15,153,000 after purchasing an additional 38,412 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Anika Therapeutics by 5.1% in 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 during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

Anika Therapeutics Stock Performance

Anika Therapeutics stock opened at $16.21 on Friday. The company’s 50 day simple moving average is $17.60 and its 200-day simple moving average is $22.90. Anika Therapeutics, Inc. has a 1 year low of $15.82 and a 1 year high of $29.11. The company has a market capitalization of $237.41 million, a price-to-earnings ratio of -2.44 and a beta of 0.89.

Analysts Set New Price Targets

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

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.