Short Interest in Anika Therapeutics, Inc. (NASDAQ:ANIK) Decreases By 23.5%

Anika Therapeutics, Inc. (NASDAQ:ANIK) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 489,100 shares, a decrease of 23.5% from the September 30th total of 639,300 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily trading volume, of 49,200 shares, the days-to-cover ratio is currently 9.9 days.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and set a $37.00 price target on shares of Anika Therapeutics in a research note on Tuesday, October 22nd.

Anika Therapeutics Stock Down 0.8 %

NASDAQ:ANIK opened at $24.32 on Monday. The company’s 50 day moving average is $25.04 and its 200-day moving average is $25.78. Anika Therapeutics has a 12 month low of $18.44 and a 12 month high of $29.11. The firm has a market cap of $354.76 million, a price-to-earnings ratio of -4.63 and a beta of 0.83.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.24). The firm had revenue of $41.92 million during the quarter, compared to the consensus estimate of $39.90 million. Anika Therapeutics had a positive return on equity of 0.94% and a negative net margin of 44.45%. During the same quarter last year, the business earned ($0.06) EPS. Research analysts predict that Anika Therapeutics will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in Anika Therapeutics by 7.8% during the first quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock worth $219,000 after acquiring an additional 627 shares during the period. Eastern Bank bought a new position in shares of Anika Therapeutics during the 3rd quarter worth about $28,000. Massachusetts Financial Services Co. MA raised its position in shares of Anika Therapeutics by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 47,691 shares of the biotechnology company’s stock valued at $1,208,000 after buying an additional 1,601 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Anika Therapeutics by 11.8% in the second quarter. American Century Companies Inc. now owns 23,892 shares of the biotechnology company’s stock valued at $605,000 after buying an additional 2,518 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Anika Therapeutics by 16.9% during the first quarter. BNP Paribas Financial Markets now owns 22,240 shares of the biotechnology company’s stock worth $565,000 after buying an additional 3,217 shares in the last quarter. 91.53% of the stock is owned by 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.