Man Group plc Invests $2.06 Million in Anika Therapeutics Inc. $ANIK

Man Group plc acquired a new stake in shares of Anika Therapeutics Inc. (NASDAQ:ANIK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 140,712 shares of the biotechnology company’s stock, valued at approximately $2,059,000.

Several other hedge funds have also recently made changes to their positions in ANIK. AQR Capital Management LLC purchased a new position in Anika Therapeutics in the 1st quarter worth $181,000. Cetera Investment Advisers lifted its position in Anika Therapeutics by 93.1% during the 2nd quarter. Cetera Investment Advisers now owns 19,509 shares of the biotechnology company’s stock worth $206,000 after acquiring an additional 9,407 shares during the period. American Century Companies Inc. grew its stake in Anika Therapeutics by 32.8% during the 2nd quarter. American Century Companies Inc. now owns 44,161 shares of the biotechnology company’s stock valued at $467,000 after purchasing an additional 10,909 shares during the last quarter. Marshall Wace LLP purchased a new stake in Anika Therapeutics during the 2nd quarter valued at about $241,000. Finally, Jane Street Group LLC grew its stake in Anika Therapeutics by 31.6% during the 2nd quarter. Jane Street Group LLC now owns 22,871 shares of the biotechnology company’s stock valued at $242,000 after purchasing an additional 5,488 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ANIK shares. Wall Street Zen upgraded Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. B. Riley Financial upped their target price on Anika Therapeutics from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anika Therapeutics in a report on Wednesday, June 24th. Barrington Research set a $21.00 price target on shares of Anika Therapeutics in a research report on Thursday, July 30th. Finally, Zacks Research upgraded shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Anika Therapeutics Stock Up 1.1%

Shares of ANIK stock opened at $21.11 on Wednesday. The stock has a market cap of $282.45 million, a PE ratio of -78.18, a price-to-earnings-growth ratio of 14.91 and a beta of 0.20. The business has a 50-day simple moving average of $18.01 and a 200-day simple moving average of $15.55. Anika Therapeutics Inc. has a 52-week low of $8.37 and a 52-week high of $22.88.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.39. The firm had revenue of $32.61 million for the quarter, compared to the consensus estimate of $29.21 million. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%. Sell-side analysts anticipate that Anika Therapeutics Inc. will post 0.14 earnings per share for the current fiscal year.

Anika Therapeutics Profile

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.