Assenagon Asset Management S.A. Has $675,000 Holdings in Anika Therapeutics Inc. $ANIK

Assenagon Asset Management S.A. grew its position in shares of Anika Therapeutics Inc. (NASDAQ:ANIK) by 268.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,586 shares of the biotechnology company’s stock after purchasing an additional 33,951 shares during the quarter. Assenagon Asset Management S.A. owned about 0.35% of Anika Therapeutics worth $675,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANIK. Hsbc Holdings PLC bought a new position in Anika Therapeutics during the fourth quarter worth $464,000. Corient Private Wealth LLC boosted its position in shares of Anika Therapeutics by 4.3% during the 4th quarter. Corient Private Wealth LLC now owns 32,224 shares of the biotechnology company’s stock valued at $310,000 after purchasing an additional 1,324 shares in the last quarter. Invesco Ltd. boosted its position in shares of Anika Therapeutics by 7.9% during the 4th quarter. Invesco Ltd. now owns 25,272 shares of the biotechnology company’s stock valued at $243,000 after purchasing an additional 1,843 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Anika Therapeutics during the fourth quarter worth approximately $122,000. Finally, NewEdge Advisors LLC bought a new stake in Anika Therapeutics in the fourth quarter worth approximately $139,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Stephen D. Griffin acquired 12,200 shares of the stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of $12.29 per share, with a total value of $149,938.00. Following the completion of the purchase, the chief executive officer directly owned 36,163 shares in the company, valued at $444,443.27. This trade represents a 50.91% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Henneman III bought 5,000 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was bought at an average price of $14.66 per share, for a total transaction of $73,300.00. Following the acquisition, the director directly owned 54,871 shares of the company’s stock, valued at approximately $804,408.86. This represents a 10.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 12.08% of the company’s stock.

Wall Street Analysts Forecast Growth

ANIK has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anika Therapeutics in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Anika Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Anika Therapeutics Trading Up 1.2%

Anika Therapeutics stock opened at $15.36 on Friday. The firm has a market capitalization of $204.44 million, a price-to-earnings ratio of -19.44 and a beta of 0.23. The firm’s fifty day moving average price is $14.74 and its two-hundred day moving average price is $12.85. Anika Therapeutics Inc. has a 1-year low of $7.87 and a 1-year high of $16.24.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.34. Anika Therapeutics had a negative net margin of 9.52% and a negative return on equity of 5.90%. The company had revenue of $29.61 million during the quarter, compared to the consensus estimate of $28.14 million. On average, research analysts forecast that Anika Therapeutics Inc. will post -0.74 EPS for the current year.

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.