Anika Therapeutics, Inc. (NASDAQ:ANIK) Short Interest Down 27.8% in November

Anika Therapeutics, Inc. (NASDAQ:ANIK) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 367,500 shares, a drop of 27.8% from the November 15th total of 508,900 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average trading volume of 92,800 shares, the short-interest ratio is currently 4.0 days.

Anika Therapeutics Stock Down 1.0 %

NASDAQ:ANIK opened at $17.16 on Friday. Anika Therapeutics has a 52 week low of $16.00 and a 52 week high of $29.11. The company has a market cap of $251.39 million, a PE ratio of -2.58 and a beta of 0.89. The business’s 50 day moving average is $20.16 and its two-hundred day moving average is $23.88.

Institutional Trading of Anika Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Eastern Bank acquired a new stake in Anika Therapeutics during the third quarter worth about $28,000. Quest Partners LLC lifted its holdings in shares of Anika Therapeutics by 115.8% in the 3rd quarter. Quest Partners LLC now owns 6,904 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 3,705 shares during the last quarter. Atria Investments Inc acquired a new position in Anika Therapeutics during the 3rd quarter valued at approximately $218,000. SG Americas Securities LLC grew its stake in Anika Therapeutics by 43.1% during the 3rd quarter. SG Americas Securities LLC now owns 9,485 shares of the biotechnology company’s stock worth $234,000 after buying an additional 2,858 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in Anika Therapeutics in the third quarter worth $238,000. Institutional investors own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ANIK. Barrington Research cut their target price on Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. StockNews.com lowered shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

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.