Eleven Biotherapeutics Inc. (EBIO) Shares Gap Up Following Strong Earnings
Eleven Biotherapeutics Inc. (NASDAQ:EBIO)’s share price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $2.71, but opened at $2.92. Eleven Biotherapeutics shares last traded at $2.50, with a volume of 2,120,272 shares trading hands.
The biopharmaceutical company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $1.08. The business 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 news, major shareholder Ventures Fund 2007 L. Flagship sold 46,692 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $4.18, for a total value of $195,172.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ventures Fund 2007 L. Flagship sold 129,497 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $4.54, for a total transaction of $587,916.38. The disclosure for this sale can be found here. Company insiders own 28.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. KCG Holdings Inc. boosted its stake in 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. BlackRock Institutional Trust Company N.A. boosted its stake in 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 during the period. Boxer Capital LLC bought a new stake in Eleven Biotherapeutics during the second quarter worth approximately $1,670,000. Flagship Ventures Fund IV General Partner LLC bought a new stake in Eleven Biotherapeutics during the second quarter worth approximately $2,464,000. Finally, Bank of New York Mellon Corp boosted its stake in 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 during the period. Institutional investors and hedge funds own 35.28% of the company’s stock.
The company’s market capitalization is $38.64 million. The company has a 50 day moving average price of $2.28 and a 200-day moving average price of $2.71.
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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