Capital Management Corp VA Reduces Stake in Anika Therapeutics Inc. (ANIK)

Capital Management Corp VA decreased its stake in Anika Therapeutics Inc. (NASDAQ:ANIK) by 58.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,030 shares of the biotechnology company’s stock after selling 84,510 shares during the period. Capital Management Corp VA owned about 0.42% of Anika Therapeutics worth $3,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its stake in Anika Therapeutics by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 2,872 shares of the biotechnology company’s stock worth $141,000 after buying an additional 1,272 shares in the last quarter. Mason Street Advisors LLC increased its stake in Anika Therapeutics by 7.1% in the first quarter. Mason Street Advisors LLC now owns 3,423 shares of the biotechnology company’s stock worth $149,000 after buying an additional 228 shares in the last quarter. Victory Capital Management Inc. increased its stake in Anika Therapeutics by 68.4% in the first quarter. Victory Capital Management Inc. now owns 3,452 shares of the biotechnology company’s stock worth $150,000 after buying an additional 1,402 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Anika Therapeutics by 176.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,812 shares of the biotechnology company’s stock worth $187,000 after buying an additional 2,432 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in Anika Therapeutics during the first quarter worth about $204,000. Institutional investors and hedge funds own 81.27% of the company’s stock.

Anika Therapeutics Inc. (ANIK) opened at 51.72 on Friday. The company’s 50 day moving average is $49.30 and its 200-day moving average is $47.05. Anika Therapeutics Inc. has a 52-week low of $41.38 and a 52-week high of $53.99. The company has a market capitalization of $758.11 million, a price-to-earnings ratio of 22.98 and a beta of 1.69.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, July 26th. The biotechnology company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.32. Anika Therapeutics had a return on equity of 14.88% and a net margin of 30.44%. The firm had revenue of $33.50 million for the quarter, compared to analyst estimates of $27.20 million. During the same quarter in the prior year, the company earned $0.57 EPS. Anika Therapeutics’s revenue was up 25.9% on a year-over-year basis. Equities analysts anticipate that Anika Therapeutics Inc. will post $2.00 EPS for the current fiscal year.

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A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday.

In other Anika Therapeutics news, CEO Charles H. Sherwood sold 63,799 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $50.79, for a total value of $3,240,351.21. Following the sale, the chief executive officer now owns 174,705 shares of the company’s stock, valued at approximately $8,873,266.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffery S. Thompson sold 10,725 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $47.39, for a total value of $508,257.75. Following the completion of the transaction, the director now owns 15,845 shares in the company, valued at approximately $750,894.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,725 shares of company stock worth $4,459,085. 6.57% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Anika Therapeutics (NASDAQ:ANIK)

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