Eleven Biotherapeutics Inc. (EBIO) Trading 11.5% Higher Following Strong Earnings
Eleven Biotherapeutics Inc. (NASDAQ:EBIO) traded up 11.5% during mid-day trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $3.23 and last traded at $2.92, with a volume of 5,296,268 shares changing hands. The stock had previously closed at $2.62.
The biopharmaceutical company reported $0.91 EPS for the quarter, beating the consensus estimate of ($0.17) by $1.08. The company had revenue of $28.70 million for the quarter. Eleven Biotherapeutics had a negative net margin of 2,995.34% and a negative return on equity of 207.40%.
In other Eleven Biotherapeutics news, major shareholder Ventures Fund 2007 L. Flagship sold 129,497 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $4.54, for a total value of $587,916.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Abbie Celniker sold 10,031 shares of the company’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $3.00, for a total transaction of $30,093.00. Following the completion of the transaction, the director now owns 409,915 shares in the company, valued at $1,229,745. The disclosure for this sale can be found here. 28.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Eleven Biotherapeutics by 13.2% in the second quarter. Bank of New York Mellon Corp now owns 67,483 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 7,846 shares in the last quarter. KCG Holdings Inc. increased its position in shares of Eleven Biotherapeutics by 197.7% in the third quarter. KCG Holdings Inc. now owns 97,978 shares of the biopharmaceutical company’s stock worth $274,000 after buying an additional 65,071 shares in the last quarter. Flagship Ventures Fund IV L.P. bought a new position in shares of Eleven Biotherapeutics during the first quarter worth approximately $469,000. Flagship Ventures Fund 2007 L.P. bought a new position in shares of Eleven Biotherapeutics during the first quarter worth approximately $610,000. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Eleven Biotherapeutics by 153.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 379,068 shares of the biopharmaceutical company’s stock worth $1,061,000 after buying an additional 229,450 shares in the last quarter. Institutional investors and hedge funds own 35.28% of the company’s stock.
The company’s market cap is $44.95 million. The company has a 50-day moving average price of $2.29 and a 200 day moving average price of $2.70.
About Eleven Biotherapeutics
Eleven Biotherapeutics, Inc is a preclinical-stage biopharmaceutical company. The Company applies its AMP-Rx platform to the discovery and development of protein therapeutics to treat diseases of the eye. The Company’s product candidate, which is still in preclinical development, is EBI-031, which was designed, engineered and generated using its AMP-Rx platform and are developing as an intravitreal injection for diabetic macular edema (DME) and uveitis.
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