Anika Therapeutics (NASDAQ:ANIK) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Anika Therapeutics Inc. (NASDAQ:ANIK)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.77 and traded as high as $14.87. Anika Therapeutics shares last traded at $14.63, with a volume of 74,759 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on ANIK. Wall Street Zen cut shares of Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Anika Therapeutics in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.00.

Anika Therapeutics Trading Down 2.5%

The firm’s 50-day moving average is $14.75 and its 200-day moving average is $12.77. The firm has a market cap of $194.73 million, a price-to-earnings ratio of -18.52 and a beta of 0.23.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.34. The firm had revenue of $29.61 million for the quarter, compared to analyst estimates of $28.14 million. Anika Therapeutics had a negative net margin of 9.52% and a negative return on equity of 5.90%. Analysts forecast that Anika Therapeutics Inc. will post -0.74 EPS for the current fiscal year.

Insider Transactions at Anika Therapeutics

In related news, Director John B. Henneman III purchased 5,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was acquired at an average price of $14.66 per share, for a total transaction of $73,300.00. Following the purchase, the director owned 54,871 shares of the company’s stock, valued at approximately $804,408.86. This trade represents a 10.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen D. Griffin bought 12,200 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $12.29 per share, for a total transaction of $149,938.00. Following the transaction, the chief executive officer owned 36,163 shares of the company’s stock, valued at $444,443.27. The trade was a 50.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 12.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Anika Therapeutics in the 3rd quarter worth approximately $71,000. CWM LLC increased its position in shares of Anika Therapeutics by 14.5% during the fourth quarter. CWM LLC now owns 8,537 shares of the biotechnology company’s stock valued at $82,000 after acquiring an additional 1,080 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in Anika Therapeutics during the third quarter worth $95,000. Ieq Capital LLC bought a new stake in Anika Therapeutics during the fourth quarter worth $97,000. Finally, Tudor Investment Corp ET AL purchased a new position in Anika Therapeutics in the third quarter worth $107,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

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.