Anika Therapeutics, Inc. (NASDAQ:ANIK) Short Interest Update

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 367,500 shares, a decline of 27.8% from the November 15th total of 508,900 shares. Based on an average daily trading volume, of 92,800 shares, the days-to-cover ratio is currently 4.0 days. Currently, 2.6% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ANIK. StockNews.com lowered Anika Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Barrington Research cut their price target on Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

Hedge Funds Weigh In On Anika Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC boosted its position in Anika Therapeutics by 66.6% during the 3rd quarter. Barclays PLC now owns 32,664 shares of the biotechnology company’s stock valued at $806,000 after purchasing an additional 13,054 shares during the period. Meros Investment Management LP boosted its stake in Anika Therapeutics by 11.6% during the 3rd quarter. Meros Investment Management LP now owns 237,295 shares of the biotechnology company’s stock valued at $5,861,000 after purchasing an additional 24,581 shares during the period. Jane Street Group LLC grew its position in Anika Therapeutics by 54.1% in the 3rd quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company’s stock worth $601,000 after purchasing an additional 8,550 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Anika Therapeutics by 11.3% during the third quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company’s stock valued at $387,000 after buying an additional 1,615 shares during the last quarter. Finally, Stonepine Capital Management LLC boosted its position in shares of Anika Therapeutics by 14.5% during the third quarter. Stonepine Capital Management LLC now owns 189,308 shares of the biotechnology company’s stock worth $4,676,000 after buying an additional 23,911 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Anika Therapeutics Stock Performance

ANIK stock traded down $0.17 on Friday, reaching $17.16. The company had a trading volume of 42,877 shares, compared to its average volume of 71,750. The company’s fifty day moving average is $20.00 and its 200 day moving average is $23.82. The company has a market cap of $251.33 million, a P/E ratio of -2.58 and a beta of 0.89. Anika Therapeutics has a 1 year low of $16.00 and a 1 year high of $29.11.

About Anika Therapeutics

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.