Shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) shot up 0% during mid-day trading on Wednesday . The stock traded as high as $0.97 and last traded at $0.90. 1,260,499 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 1,079,899 shares. The stock had previously closed at $0.90.

The stock has a market cap of $28.67, a price-to-earnings ratio of -0.85 and a beta of 3.04.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan acquired a new stake in Eleven Biotherapeutics in the third quarter valued at $382,000. Virtu KCG Holdings LLC acquired a new stake in Eleven Biotherapeutics in the second quarter valued at $175,000. Finally, Vanguard Group Inc. raised its holdings in Eleven Biotherapeutics by 17.4% in the second quarter. Vanguard Group Inc. now owns 206,450 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 30,600 shares in the last quarter. 3.84% of the stock is currently owned by hedge funds and other institutional investors.

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Eleven Biotherapeutics Company Profile

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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