Geode Capital Management LLC Cuts Stock Position in Anika Therapeutics, Inc. (NASDAQ:ANIK)

Geode Capital Management LLC trimmed its position in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) by 4.7% in the third quarter, HoldingsChannel.com reports. The fund owned 324,964 shares of the biotechnology company’s stock after selling 16,104 shares during the period. Geode Capital Management LLC’s holdings in Anika Therapeutics were worth $8,029,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new position in shares of Anika Therapeutics in the third quarter valued at approximately $28,000. Quest Partners LLC boosted its position in Anika Therapeutics by 115.8% in the 3rd quarter. Quest Partners LLC now owns 6,904 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 3,705 shares during the period. Atria Investments Inc purchased a new position in Anika Therapeutics in the 3rd quarter valued at approximately $218,000. SG Americas Securities LLC grew its stake in shares of Anika Therapeutics by 43.1% in the third quarter. SG Americas Securities LLC now owns 9,485 shares of the biotechnology company’s stock worth $234,000 after acquiring an additional 2,858 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Anika Therapeutics during the third quarter worth $238,000. 91.53% of the stock is owned by institutional investors and hedge funds.

Anika Therapeutics Trading Down 1.5 %

Shares of ANIK opened at $16.21 on Friday. The firm has a market capitalization of $237.41 million, a price-to-earnings ratio of -2.44 and a beta of 0.89. The firm’s fifty day simple moving average is $17.60 and its 200-day simple moving average is $22.90. Anika Therapeutics, Inc. has a twelve month low of $15.82 and a twelve month high of $29.11.

Analysts Set New Price Targets

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

Anika Therapeutics 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.