Anika Therapeutics, Inc. (ANIK) Hedge Funds Are Snapping Up

As aggregate interest increased, key money managers were breaking ground themselves. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital initiated the most outsized position in Anika Therapeutics, Inc. (NASDAQ:ANIK). Arrowstreet Capital had $1.3 million invested in the company at the end of the quarter. Paul Tudor Jones’ Tudor Investment Corp also initiated a $0.6 million position during the quarter. The other funds with brand new ANIK positions are Dmitry Balyasny’s Balyasny Asset Management, Louis Navellier’s Navellier & Associates, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Anika Therapeutics, Inc. (NASDAQ:ANIK) but similarly valued. These stocks are VASCO Data Security International, Inc. (NASDAQ:VDSI), Nautilus, Inc. (NYSE:NLS), Pinnacle Entertainment, Inc (NYSE:PNK), and Solaredge Technologies Inc (NASDAQ:SEDG). All of these stocks’ market caps are similar to ANIK’s market cap.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $121 million. That figure was $59 million in ANIK’s case. Pinnacle Entertainment, Inc (NYSE:PNK) is the most popular stock in this table. On the other hand Nautilus, Inc. (NYSE:NLS) is the least popular one with only 12 bullish hedge fund positions. Anika Therapeutics, Inc. (NASDAQ:ANIK) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PNK might be a better candidate to consider taking a long position in.

Disclosure: None