Massachusetts Financial Services Co. MA Trims Stock Position in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Massachusetts Financial Services Co. MA lessened its stake in Anika Therapeutics, Inc. (NASDAQ:ANIK) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,564 shares of the biotechnology company’s stock after selling 1,127 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.32% of Anika Therapeutics worth $1,150,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ANIK. Vanguard Group Inc. lifted its stake in shares of Anika Therapeutics by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 773,702 shares of the biotechnology company’s stock valued at $19,652,000 after purchasing an additional 9,657 shares during the period. Renaissance Technologies LLC raised its position in shares of Anika Therapeutics by 6.9% in the second quarter. Renaissance Technologies LLC now owns 598,229 shares of the biotechnology company’s stock worth $15,153,000 after acquiring an additional 38,412 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Anika Therapeutics by 5.1% during the 2nd quarter. Acadian Asset Management LLC now owns 442,944 shares of the biotechnology company’s stock worth $11,217,000 after acquiring an additional 21,517 shares in the last quarter. Meros Investment Management LP grew its position in shares of Anika Therapeutics by 25.0% during the 2nd quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock valued at $5,388,000 after acquiring an additional 42,587 shares during the period. Finally, Stonepine Capital Management LLC increased its stake in shares of Anika Therapeutics by 171.4% in the 2nd quarter. Stonepine Capital Management LLC now owns 165,397 shares of the biotechnology company’s stock valued at $4,190,000 after purchasing an additional 104,448 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Stock Performance

NASDAQ:ANIK opened at $17.72 on Thursday. The stock has a 50 day moving average of $21.77 and a two-hundred day moving average of $24.47. Anika Therapeutics, Inc. has a 12 month low of $16.00 and a 12 month high of $29.11. The firm has a market cap of $259.60 million, a P/E ratio of -2.66 and a beta of 0.86.

Wall Street Analyst Weigh In

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

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.