Eleven Biotherapeutics (EBIO) Shares Down 5.8%

Eleven Biotherapeutics, Inc. (NASDAQ:EBIO) shares dropped 5.8% during trading on Wednesday . The company traded as low as $0.64 and last traded at $0.65. Approximately 1,270,600 shares traded hands during mid-day trading, an increase of 142% from the average daily volume of 524,223 shares. The stock had previously closed at $0.69.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan bought a new stake in Eleven Biotherapeutics in the 3rd quarter valued at about $382,000. Vanguard Group Inc. boosted its holdings in Eleven Biotherapeutics by 17.4% in the 2nd quarter. Vanguard Group Inc. now owns 206,450 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 30,600 shares during the period. Virtu KCG Holdings LLC bought a new stake in Eleven Biotherapeutics in the 2nd quarter valued at about $175,000. Finally, Spark Investment Management LLC bought a new stake in Eleven Biotherapeutics in the 2nd quarter valued at about $148,000. 4.19% of the stock is 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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