TIAA CREF Investment Management LLC Sells 7,532 Shares of Anika Therapeutics Inc. (ANIK)

TIAA CREF Investment Management LLC lessened its stake in Anika Therapeutics Inc. (NASDAQ:ANIK) by 16.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,359 shares of the biotechnology company’s stock after selling 7,532 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.27% of Anika Therapeutics worth $1,942,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Anika Therapeutics by 97.7% in the first quarter. Bank of America Corp DE now owns 23,295 shares of the biotechnology company’s stock valued at $1,012,000 after purchasing an additional 11,511 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Anika Therapeutics by 76.8% in the second quarter. Bank of New York Mellon Corp now owns 490,433 shares of the biotechnology company’s stock valued at $24,199,000 after purchasing an additional 213,055 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Anika Therapeutics by 51.7% in the first quarter. Renaissance Technologies LLC now owns 253,100 shares of the biotechnology company’s stock valued at $10,995,000 after purchasing an additional 86,300 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Anika Therapeutics by 6.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,423,593 shares of the biotechnology company’s stock valued at $70,241,000 after purchasing an additional 88,418 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Anika Therapeutics by 5.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 64,843 shares of the biotechnology company’s stock valued at $2,817,000 after purchasing an additional 3,408 shares during the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. Anika Therapeutics had a return on equity of 13.40% and a net margin of 28.23%. The firm had revenue of $27.18 million during the quarter, compared to the consensus estimate of $27.44 million. During the same period in the previous year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year.

In other Anika Therapeutics news, CEO Charles H. Sherwood sold 5,991 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $60.04, for a total value of $359,699.64. Following the completion of the transaction, the chief executive officer now directly owns 158,297 shares in the company, valued at approximately $9,504,151.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles H. Sherwood sold 3,293 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $60.04, for a total value of $197,711.72. The disclosure for this sale can be found here. Insiders have sold a total of 38,636 shares of company stock valued at $2,320,435 over the last 90 days. Insiders own 6.57% of the company’s stock.

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Several research firms recently commented on ANIK. Zacks Investment Research raised Anika Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub raised Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, Barrington Research increased their price target on Anika Therapeutics from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, October 27th.

Anika Therapeutics Company Profile

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

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