Schwab Charles Investment Management Inc. reduced its stake in shares of Anika Therapeutics Inc. (NASDAQ:ANIK) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,865 shares of the biotechnology company’s stock after selling 4,414 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.45% of Anika Therapeutics worth $3,821,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Anika Therapeutics during the 3rd quarter worth $118,000. Victory Capital Management Inc. raised its stake in shares of Anika Therapeutics by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,060 shares of the biotechnology company’s stock worth $200,000 after buying an additional 608 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Anika Therapeutics by 3.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,315 shares of the biotechnology company’s stock worth $213,000 after buying an additional 126 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of Anika Therapeutics during the 3rd quarter worth $222,000. Finally, Miles Capital Inc. acquired a new position in shares of Anika Therapeutics during the 2nd quarter worth $232,000. Institutional investors own 84.91% of the company’s stock.
In related news, insider Richard Hague sold 5,250 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $54.48, for a total value of $286,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles H. Sherwood sold 5,991 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $60.04, for a total transaction of $359,699.64. Following the completion of the transaction, the chief executive officer now directly owns 158,297 shares of the company’s stock, valued at approximately $9,504,151.88. The disclosure for this sale can be found here. Insiders have sold a total of 36,762 shares of company stock valued at $2,178,445 in the last ninety days. Corporate insiders own 6.57% of the company’s stock.
Several research analysts have recently issued reports on the company. BidaskClub raised Anika Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Barrington Research lifted their price target on Anika Therapeutics from $53.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th.
Anika Therapeutics Inc. (NASDAQ ANIK) opened at $56.64 on Friday. The stock has a market capitalization of $830.46, a price-to-earnings ratio of 26.59, a PEG ratio of 3.43 and a beta of 1.44. Anika Therapeutics Inc. has a one year low of $41.64 and a one year high of $60.29.
Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $27.18 million during the quarter, compared to the consensus estimate of $27.44 million. Anika Therapeutics had a return on equity of 13.40% and a net margin of 28.23%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. research analysts predict that Anika Therapeutics Inc. will post 1.9 earnings per share for the current year.
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About Anika Therapeutics
Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.
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