Cornercap Investment Counsel Inc. Makes New $238,000 Investment in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Cornercap Investment Counsel Inc. acquired a new stake in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 9,653 shares of the biotechnology company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Eastern Bank purchased a new stake in Anika Therapeutics during the third quarter valued at about $28,000. Lazard Asset Management LLC purchased a new stake in shares of Anika Therapeutics during the 1st quarter worth about $180,000. State Board of Administration of Florida Retirement System acquired a new stake in Anika Therapeutics during the 1st quarter worth approximately $198,000. Atria Investments Inc purchased a new position in Anika Therapeutics in the third quarter valued at approximately $218,000. Finally, SG Americas Securities LLC lifted its position in Anika Therapeutics by 7.8% during the first quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock valued at $219,000 after buying an additional 627 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Anika Therapeutics Stock Down 1.2 %

ANIK stock opened at $17.04 on Tuesday. The stock’s 50 day moving average is $22.96 and its two-hundred day moving average is $25.02. Anika Therapeutics, Inc. has a 52-week low of $16.00 and a 52-week high of $29.11. The company has a market capitalization of $249.64 million, a PE ratio of -2.56 and a beta of 0.86.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Barrington Research lowered their price target on shares of Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

Anika Therapeutics Company Profile

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.