Deutsche Bank AG Lowers Stock Position in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Deutsche Bank AG lessened its holdings in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) by 13.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,499 shares of the biotechnology company’s stock after selling 11,805 shares during the period. Deutsche Bank AG owned 0.51% of Anika Therapeutics worth $1,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Anika Therapeutics in the fourth quarter worth $27,000. Aquatic Capital Management LLC bought a new position in Anika Therapeutics in the 4th quarter worth about $42,000. Tower Research Capital LLC TRC grew its position in Anika Therapeutics by 412.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,890 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 2,326 shares during the last quarter. Wells Fargo & Company MN increased its stake in Anika Therapeutics by 31.1% during the 4th quarter. Wells Fargo & Company MN now owns 7,421 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 1,759 shares in the last quarter. Finally, Connors Investor Services Inc. increased its stake in Anika Therapeutics by 8.0% during the 4th quarter. Connors Investor Services Inc. now owns 11,560 shares of the biotechnology company’s stock valued at $190,000 after purchasing an additional 861 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Anika Therapeutics Stock Performance

Shares of NASDAQ ANIK opened at $11.24 on Monday. The business’s 50 day moving average price is $13.89 and its 200-day moving average price is $15.86. The company has a market cap of $161.19 million, a price-to-earnings ratio of -1.69 and a beta of 0.76. Anika Therapeutics, Inc. has a fifty-two week low of $11.11 and a fifty-two week high of $29.12.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The firm had revenue of $30.60 million during the quarter, compared to the consensus estimate of $29.00 million. Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. Sell-side analysts predict that Anika Therapeutics, Inc. will post -0.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Barrington Research reduced their price target on shares of Anika Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Finally, B. Riley initiated coverage on shares of Anika Therapeutics in a research note on Thursday, April 17th. They set a “buy” rating and a $21.00 target price for the company.

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.