Trigran Investments Inc. Has $1.62 Million Holdings in Anika Therapeutics Inc. $ANIK

Trigran Investments Inc. reduced its holdings in Anika Therapeutics Inc. (NASDAQ:ANIK) by 89.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,400 shares of the biotechnology company’s stock after selling 1,452,815 shares during the quarter. Anika Therapeutics makes up approximately 0.3% of Trigran Investments Inc.’s holdings, making the stock its 16th largest holding. Trigran Investments Inc. owned about 1.17% of Anika Therapeutics worth $1,618,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC boosted its holdings in shares of Anika Therapeutics by 119.8% in the 4th quarter. Barclays PLC now owns 70,506 shares of the biotechnology company’s stock worth $678,000 after acquiring an additional 38,432 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Anika Therapeutics by 18.3% in the 4th quarter. Marshall Wace LLP now owns 87,188 shares of the biotechnology company’s stock worth $838,000 after acquiring an additional 13,464 shares in the last quarter. Advyzon Investment Management LLC boosted its holdings in shares of Anika Therapeutics by 139.8% in the 4th quarter. Advyzon Investment Management LLC now owns 48,296 shares of the biotechnology company’s stock worth $464,000 after acquiring an additional 28,160 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Anika Therapeutics by 78.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company’s stock worth $1,880,000 after acquiring an additional 85,771 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Anika Therapeutics by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 106,297 shares of the biotechnology company’s stock worth $1,022,000 after acquiring an additional 2,427 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on ANIK shares. Barrington Research boosted their target price on Anika Therapeutics from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Wall Street Zen downgraded Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.00.

Insider Buying and Selling at Anika Therapeutics

In other news, CEO Stephen D. Griffin acquired 12,200 shares of Anika Therapeutics stock in a transaction on Thursday, April 30th. The shares were purchased at an average price of $12.29 per share, with a total value of $149,938.00. Following the acquisition, the chief executive officer owned 36,163 shares in the company, valued at $444,443.27. This represents a 50.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Henneman III acquired 5,000 shares of Anika Therapeutics stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $14.66 per share, for a total transaction of $73,300.00. Following the acquisition, the director owned 54,871 shares in the company, valued at approximately $804,408.86. This represents a 10.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 12.08% of the stock is currently owned by corporate insiders.

Anika Therapeutics Stock Performance

NASDAQ:ANIK opened at $14.72 on Monday. The stock’s fifty day moving average price is $14.88 and its two-hundred day moving average price is $12.36. Anika Therapeutics Inc. has a 52-week low of $7.87 and a 52-week high of $16.24. The company has a market cap of $195.92 million, a price-to-earnings ratio of -18.63 and a beta of 0.23.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.34. Anika Therapeutics had a negative return on equity of 5.90% and a negative net margin of 9.52%.The firm had revenue of $29.61 million for the quarter, compared to the consensus estimate of $28.14 million. On average, equities analysts predict that Anika Therapeutics Inc. will post -0.74 EPS for the current fiscal year.

About Anika Therapeutics

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.