Short Interest in Anika Therapeutics, Inc. (NASDAQ:ANIK) Rises By 5.3%

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 811,100 shares, a growth of 5.3% from the March 31st total of 770,400 shares. Based on an average trading volume of 81,800 shares, the short-interest ratio is currently 9.9 days. Approximately 5.7% of the shares of the stock are sold short.

Anika Therapeutics Price Performance

NASDAQ ANIK opened at $26.49 on Thursday. The business has a 50 day moving average price of $25.56 and a 200 day moving average price of $23.24. The company has a market capitalization of $392.85 million, a P/E ratio of -4.69, a PEG ratio of 2.32 and a beta of 0.76. Anika Therapeutics has a 1-year low of $16.54 and a 1-year high of $28.13.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, March 13th. The biotechnology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.20. The company had revenue of $42.97 million for the quarter, compared to analyst estimates of $41.51 million. Anika Therapeutics had a negative return on equity of 2.10% and a negative net margin of 49.60%. On average, research analysts expect that Anika Therapeutics will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANIK has been the subject of several research analyst reports. Stephens reiterated an “equal weight” rating and issued a $22.00 price objective on shares of Anika Therapeutics in a research report on Thursday, March 14th. StockNews.com upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, Barrington Research boosted their price objective on shares of Anika Therapeutics from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th.

Hedge Funds Weigh In On Anika Therapeutics

Several hedge funds have recently added to or reduced their stakes in ANIK. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Anika Therapeutics by 216.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,393 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 2,320 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Anika Therapeutics by 168.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,104 shares of the biotechnology company’s stock valued at $70,000 after buying an additional 1,947 shares during the last quarter. Quantbot Technologies LP purchased a new position in Anika Therapeutics during the third quarter worth $97,000. SG Americas Securities LLC acquired a new position in shares of Anika Therapeutics in the third quarter worth $124,000. Finally, Quest Partners LLC acquired a new position in shares of Anika Therapeutics in the fourth quarter worth $156,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

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.