Allspring Global Investments Holdings LLC Has $1.16 Million Position in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Allspring Global Investments Holdings LLC reduced its stake in Anika Therapeutics, Inc. (NASDAQ:ANIK) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,011 shares of the biotechnology company’s stock after selling 4,201 shares during the period. Allspring Global Investments Holdings LLC owned about 0.35% of Anika Therapeutics worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Anika Therapeutics by 216.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,393 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 2,320 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Anika Therapeutics in the 3rd quarter valued at approximately $97,000. SG Americas Securities LLC acquired a new stake in Anika Therapeutics during the 3rd quarter worth approximately $124,000. Connors Investor Services Inc. boosted its position in Anika Therapeutics by 30.5% during the 3rd quarter. Connors Investor Services Inc. now owns 10,699 shares of the biotechnology company’s stock worth $199,000 after buying an additional 2,500 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Anika Therapeutics during the 3rd quarter worth approximately $209,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Anika Therapeutics Stock Performance

Anika Therapeutics stock opened at $25.79 on Wednesday. Anika Therapeutics, Inc. has a 52-week low of $16.54 and a 52-week high of $28.13. The firm has a 50 day moving average price of $25.36 and a two-hundred day moving average price of $22.97. The firm has a market cap of $382.98 million, a price-to-earnings ratio of -4.56, a PEG ratio of 2.31 and a beta of 0.76.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings results on Wednesday, March 13th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.20. Anika Therapeutics had a negative net margin of 49.60% and a negative return on equity of 2.10%. The firm had revenue of $42.97 million during the quarter, compared to analyst estimates of $41.51 million. As a group, equities research analysts predict that Anika Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

ANIK has been the topic of several recent research reports. StockNews.com upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Stephens reiterated an “equal weight” rating and set a $22.00 target price on shares of Anika Therapeutics in a research report on Thursday, March 14th. Finally, Barrington Research lifted their target price on shares of Anika Therapeutics from $29.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th.

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.