Short Interest in Anika Therapeutics Inc. (NASDAQ:ANIK) Rises By 22.7%

Anika Therapeutics Inc. (NASDAQ:ANIK) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 714,626 shares, an increase of 22.7% from the December 31st total of 582,615 shares. Based on an average daily trading volume, of 127,882 shares, the days-to-cover ratio is presently 5.6 days. Approximately 5.5% of the company’s shares are short sold. Approximately 5.5% of the company’s shares are short sold. Based on an average daily trading volume, of 127,882 shares, the days-to-cover ratio is presently 5.6 days.

Institutional Trading of Anika Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of ANIK. AQR Capital Management LLC purchased a new position in shares of Anika Therapeutics in the first quarter valued at approximately $181,000. Capital Management Corp VA boosted its position in Anika Therapeutics by 24.0% in the 2nd quarter. Capital Management Corp VA now owns 408,845 shares of the biotechnology company’s stock valued at $4,326,000 after buying an additional 79,185 shares during the period. R Squared Ltd purchased a new position in Anika Therapeutics in the 2nd quarter valued at approximately $143,000. Envestnet Asset Management Inc. grew its stake in shares of Anika Therapeutics by 26.9% in the second quarter. Envestnet Asset Management Inc. now owns 121,387 shares of the biotechnology company’s stock worth $1,284,000 after acquiring an additional 25,753 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Anika Therapeutics by 19.3% during the second quarter. Atria Investments Inc now owns 13,096 shares of the biotechnology company’s stock worth $139,000 after acquiring an additional 2,118 shares during the period. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Anika Therapeutics Stock Performance

Anika Therapeutics stock opened at $9.63 on Tuesday. The company’s 50 day simple moving average is $9.51 and its 200-day simple moving average is $9.41. Anika Therapeutics has a 1 year low of $7.87 and a 1 year high of $18.37. The company has a market capitalization of $138.86 million, a price-to-earnings ratio of -4.22 and a beta of 0.43.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Anika Therapeutics had a negative net margin of 29.29% and a negative return on equity of 8.80%. The firm had revenue of $27.82 million during the quarter, compared to the consensus estimate of $27.80 million. Equities analysts expect that Anika Therapeutics will post -0.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ANIK. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Anika Therapeutics in a research note on Monday, December 29th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Anika Therapeutics in a research report on Friday, January 9th. Finally, Wall Street Zen upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Anika Therapeutics Company 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.