Short Interest in Anika Therapeutics Inc. (NASDAQ:ANIK) Increases By 22.7%

Anika Therapeutics Inc. (NASDAQ:ANIK) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 714,626 shares, a growth of 22.7% from the December 31st total of 582,615 shares. Based on an average trading volume of 127,882 shares, the short-interest ratio is currently 5.6 days. Approximately 5.5% of the shares of the stock are short sold. Approximately 5.5% of the shares of the stock are short sold. Based on an average trading volume of 127,882 shares, the short-interest ratio is currently 5.6 days.

Anika Therapeutics Stock Performance

NASDAQ ANIK opened at $10.02 on Wednesday. The stock has a market cap of $144.49 million, a P/E ratio of -4.39 and a beta of 0.43. Anika Therapeutics has a fifty-two week low of $7.87 and a fifty-two week high of $18.37. The stock has a 50 day simple moving average of $9.51 and a two-hundred day simple moving average of $9.40.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. Anika Therapeutics had a negative return on equity of 8.80% and a negative net margin of 29.29%.The firm had revenue of $27.82 million for the quarter, compared to analysts’ expectations of $27.80 million. Sell-side analysts predict that Anika Therapeutics will post -0.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ANIK shares. Barrington Research reiterated an “outperform” rating and issued a $16.00 target price on shares of Anika Therapeutics in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Anika Therapeutics in a research note on Monday, December 29th. Finally, Wall Street Zen raised Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Institutional Investors Weigh In On Anika Therapeutics

Large investors have recently modified their holdings of the stock. Opaleye Management Inc. lifted its holdings in Anika Therapeutics by 49.1% in the second quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company’s stock worth $6,229,000 after buying an additional 193,797 shares during the period. Capital Management Corp VA grew its holdings in shares of Anika Therapeutics by 34.8% during the 3rd quarter. Capital Management Corp VA now owns 551,248 shares of the biotechnology company’s stock worth $5,182,000 after acquiring an additional 142,403 shares during the period. Two Sigma Investments LP bought a new position in shares of Anika Therapeutics in the 3rd quarter worth approximately $751,000. Indivisible Partners bought a new position in shares of Anika Therapeutics in the 4th quarter worth approximately $484,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Anika Therapeutics in the 3rd quarter valued at approximately $431,000. Institutional investors own 91.53% of the company’s stock.

About Anika Therapeutics

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.