JPMorgan Chase & Co. Has $1.50 Million Position in Anika Therapeutics Inc. (NASDAQ:ANIK)

JPMorgan Chase & Co. reduced its position in shares of Anika Therapeutics Inc. (NASDAQ:ANIK) by 36.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,498 shares of the biotechnology company’s stock after selling 19,829 shares during the period. JPMorgan Chase & Co.’s holdings in Anika Therapeutics were worth $1,499,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ANIK. 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 during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Anika Therapeutics during the first quarter worth $204,000. Atria Investments LLC increased its stake in Anika Therapeutics by 13.9% in the first quarter. Atria Investments LLC now owns 5,563 shares of the biotechnology company’s stock worth $242,000 after buying an additional 679 shares during the last quarter. Capital One National Association increased its stake in Anika Therapeutics by 9.1% in the first quarter. Capital One National Association now owns 5,786 shares of the biotechnology company’s stock worth $251,000 after buying an additional 483 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Anika Therapeutics by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the biotechnology company’s stock worth $261,000 after buying an additional 100 shares during the last quarter. Institutional investors own 80.90% of the company’s stock.

Shares of Anika Therapeutics Inc. (NASDAQ:ANIK) opened at 48.17 on Thursday. The stock has a 50 day moving average of $47.44 and a 200-day moving average of $46.95. Anika Therapeutics Inc. has a 52-week low of $41.38 and a 52-week high of $53.50. The firm has a market capitalization of $705.88 million, a P/E ratio of 23.25 and a beta of 1.69.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $23.39 million during the quarter, compared to the consensus estimate of $23.89 million. Anika Therapeutics had a return on equity of 14.29% and a net margin of 29.81%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $0.45 earnings per share. Equities analysts expect that Anika Therapeutics Inc. will post $1.91 earnings per share for the current fiscal year.

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Separately, Zacks Investment Research upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th.

In related news, Director Jeffery S. Thompson sold 10,725 shares of the firm’s stock in a transaction that occurred on 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 directly owns 15,845 shares of the company’s stock, valued at approximately $750,894.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles H. Sherwood sold 14,201 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $50.03, for a total transaction of $710,476.03. Following the completion of the transaction, the chief executive officer now directly owns 246,740 shares of the company’s stock, valued at $12,344,402.20. The disclosure for this sale can be found here. 6.57% of the stock is currently owned by company 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.