Meros Investment Management LP Reduces Position in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Meros Investment Management LP cut its position in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) by 25.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 177,675 shares of the biotechnology company’s stock after selling 59,620 shares during the period. Meros Investment Management LP owned approximately 1.21% of Anika Therapeutics worth $2,925,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Alta Fundamental Advisers LLC boosted its stake in shares of Anika Therapeutics by 136.6% during the 4th quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company’s stock worth $11,529,000 after purchasing an additional 404,350 shares during the period. Boothbay Fund Management LLC raised its holdings in shares of Anika Therapeutics by 5.1% in the 4th quarter. Boothbay Fund Management LLC now owns 529,503 shares of the biotechnology company’s stock valued at $8,716,000 after purchasing an additional 25,665 shares in the last quarter. Capital Management Corp VA raised its holdings in shares of Anika Therapeutics by 12.1% in the 4th quarter. Capital Management Corp VA now owns 325,545 shares of the biotechnology company’s stock valued at $5,358,000 after purchasing an additional 35,195 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Anika Therapeutics during the 4th quarter worth approximately $1,958,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Anika Therapeutics by 431.9% during the 4th quarter. JPMorgan Chase & Co. now owns 82,491 shares of the biotechnology company’s stock worth $1,358,000 after acquiring an additional 66,982 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ANIK shares. Barrington Research dropped their target price on shares of Anika Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday. StockNews.com cut shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday. Finally, B. Riley initiated coverage on shares of Anika Therapeutics in a research report on Thursday, April 17th. They set a “buy” rating and a $21.00 price objective for the company.

Anika Therapeutics Stock Performance

Shares of ANIK stock opened at $11.85 on Tuesday. The stock has a market capitalization of $169.94 million, a P/E ratio of -1.78 and a beta of 0.76. The company has a 50 day moving average price of $14.69 and a 200 day moving average price of $16.34. Anika Therapeutics, Inc. has a fifty-two week low of $11.48 and a fifty-two week high of $29.12.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.13). The firm had revenue of $30.60 million during the quarter, compared to analysts’ expectations of $29.00 million. Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. On average, research analysts forecast that Anika Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

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.