Atria Investments Inc Buys New Position in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Atria Investments Inc bought a new position in Anika Therapeutics, Inc. (NASDAQ:ANIK) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 8,831 shares of the biotechnology company’s stock, valued at approximately $218,000.

Other hedge funds have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System acquired a new stake in shares of Anika Therapeutics during the 1st quarter worth approximately $198,000. Vanguard Group Inc. grew its holdings in Anika Therapeutics by 1.3% in the first quarter. Vanguard Group Inc. now owns 773,702 shares of the biotechnology company’s stock worth $19,652,000 after purchasing an additional 9,657 shares during the period. Lazard Asset Management LLC bought a new stake in Anika Therapeutics in the first quarter valued at $180,000. Boston Partners acquired a new position in shares of Anika Therapeutics during the first quarter valued at about $733,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Anika Therapeutics by 20.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 61,480 shares of the biotechnology company’s stock worth $1,557,000 after purchasing an additional 10,439 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Anika Therapeutics Trading Down 2.6 %

ANIK opened at $16.97 on Friday. Anika Therapeutics, Inc. has a 1-year low of $16.00 and a 1-year high of $29.11. The company has a market cap of $248.61 million, a price-to-earnings ratio of -2.55 and a beta of 0.86. The company’s fifty day moving average price is $22.23 and its two-hundred day moving average price is $24.69.

Wall Street Analysts Forecast Growth

ANIK has been the subject of a number of research analyst reports. Barrington Research decreased their target price on Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. StockNews.com cut Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

Anika Therapeutics Profile

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.