JPMorgan Chase & Co. Cuts Stock Holdings in Anika Therapeutics, Inc. (NASDAQ:ANIK)

JPMorgan Chase & Co. reduced its stake in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) by 41.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,509 shares of the biotechnology company’s stock after selling 11,072 shares during the quarter. JPMorgan Chase & Co.’s holdings in Anika Therapeutics were worth $383,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ANIK. Jane Street Group LLC increased its stake in Anika Therapeutics by 54.1% in the 3rd quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company’s stock worth $601,000 after purchasing an additional 8,550 shares during the period. HighTower Advisors LLC increased its stake in shares of Anika Therapeutics by 11.3% in the third quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company’s stock worth $387,000 after buying an additional 1,615 shares during the period. Riverwater Partners LLC raised its holdings in Anika Therapeutics by 539.1% during the 3rd quarter. Riverwater Partners LLC now owns 101,996 shares of the biotechnology company’s stock valued at $2,552,000 after buying an additional 86,037 shares during the last quarter. Barclays PLC boosted its position in Anika Therapeutics by 66.6% during the 3rd quarter. Barclays PLC now owns 32,664 shares of the biotechnology company’s stock valued at $806,000 after buying an additional 13,054 shares during the period. Finally, FMR LLC boosted its position in Anika Therapeutics by 25.3% during the 3rd quarter. FMR LLC now owns 24,721 shares of the biotechnology company’s stock valued at $611,000 after buying an additional 4,996 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Stock Up 1.1 %

NASDAQ:ANIK opened at $16.93 on Thursday. The firm’s fifty day simple moving average is $16.68 and its 200 day simple moving average is $21.61. The stock has a market cap of $248.02 million, a P/E ratio of -2.55 and a beta of 0.90. Anika Therapeutics, Inc. has a twelve month low of $15.40 and a twelve month high of $29.11.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ANIK. Barrington Research lowered their price objective on shares of Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com downgraded Anika Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

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.