Anika Therapeutics Inc. (NASDAQ:ANIK) Sees Significant Increase in Short Interest

Anika Therapeutics Inc. (NASDAQ:ANIK) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 714,626 shares, a growth of 22.7% from the December 31st total of 582,615 shares. Currently, 5.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 127,882 shares, the days-to-cover ratio is currently 5.6 days. Based on an average daily trading volume, of 127,882 shares, the days-to-cover ratio is currently 5.6 days. Currently, 5.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Indivisible Partners acquired a new position in shares of Anika Therapeutics in the 4th quarter valued at $484,000. Strs Ohio raised its position in shares of Anika Therapeutics by 12.2% in the 4th quarter. Strs Ohio now owns 15,600 shares of the biotechnology company’s stock worth $150,000 after buying an additional 1,700 shares during the period. Objectivity Squared LLC acquired a new position in Anika Therapeutics in the fourth quarter valued at $303,000. R Squared Ltd boosted its holdings in Anika Therapeutics by 141.7% in the fourth quarter. R Squared Ltd now owns 41,581 shares of the biotechnology company’s stock valued at $400,000 after acquiring an additional 24,375 shares during the last quarter. Finally, Inscription Capital LLC purchased a new stake in Anika Therapeutics during the fourth quarter valued at about $122,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Trading Up 6.5%

Shares of ANIK stock opened at $10.67 on Thursday. The company has a market capitalization of $153.86 million, a price-to-earnings ratio of -4.68 and a beta of 0.43. The firm has a 50-day moving average price of $9.53 and a 200 day moving average price of $9.41. Anika Therapeutics has a twelve month low of $7.87 and a twelve month high of $18.37.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $27.82 million during the quarter, compared to the consensus estimate of $27.80 million. Anika Therapeutics had a negative net margin of 29.29% and a negative return on equity of 8.80%. As a group, research analysts predict that Anika Therapeutics will post -0.84 earnings per share for the current year.

Analysts Set New Price Targets

ANIK has been the topic of a number of research reports. Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Anika Therapeutics in a research note on Friday, January 9th. Wall Street Zen raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Anika Therapeutics in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus 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.