Connor Clark & Lunn Investment Management Ltd. Reduces Position in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) by 2.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 57,606 shares of the biotechnology company’s stock after selling 1,212 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Anika Therapeutics were worth $1,423,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Eastern Bank acquired a new stake in shares of Anika Therapeutics during the third quarter worth about $28,000. Quest Partners LLC lifted its stake in Anika Therapeutics by 115.8% during the 3rd quarter. Quest Partners LLC now owns 6,904 shares of the biotechnology company’s stock valued at $171,000 after acquiring an additional 3,705 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Anika Therapeutics in the 1st quarter valued at $180,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Anika Therapeutics in the first quarter worth $198,000. Finally, Atria Investments Inc purchased a new position in shares of Anika Therapeutics during the third quarter worth $218,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Stock Up 3.0 %

NASDAQ:ANIK opened at $17.72 on Wednesday. Anika Therapeutics, Inc. has a 52 week low of $16.00 and a 52 week high of $29.11. The company has a fifty day simple moving average of $21.92 and a two-hundred day simple moving average of $24.52. The company has a market cap of $259.53 million, a price-to-earnings ratio of -2.66 and a beta of 0.86.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ANIK shares. Barrington Research reduced their price objective on Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com downgraded Anika Therapeutics from a “buy” rating to a “hold” rating in a report 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.