Anika Therapeutics, Inc. (NASDAQ:ANIK) Sees Large Growth in Short Interest

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 528,900 shares, a growth of 13.0% from the October 15th total of 468,200 shares. Based on an average daily volume of 211,300 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ANIK. Stephens reduced their price target on shares of Anika Therapeutics from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 10th. StockNews.com assumed coverage on Anika Therapeutics in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Barrington Research lifted their target price on Anika Therapeutics from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd.

Hedge Funds Weigh In On Anika Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Anika Therapeutics by 61.2% in the third quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 608 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in Anika Therapeutics during the 4th quarter worth approximately $58,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Anika Therapeutics by 216.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,393 shares of the biotechnology company’s stock worth $63,000 after buying an additional 2,320 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Anika Therapeutics in the 3rd quarter valued at approximately $84,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Anika Therapeutics in the third quarter valued at approximately $97,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Anika Therapeutics Stock Performance

Shares of NASDAQ:ANIK traded down $0.05 during trading on Wednesday, hitting $21.02. The company’s stock had a trading volume of 3,935 shares, compared to its average volume of 118,972. Anika Therapeutics has a fifty-two week low of $16.54 and a fifty-two week high of $32.33. The business has a 50 day moving average price of $18.85 and a two-hundred day moving average price of $22.27.

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 bone preserving joint solutions in the United States, Europe, and internationally.