Eleven Biotherapeutics Inc (NASDAQ:EBIO) gapped up before the market opened on Thursday . The stock had previously closed at $0.81, but opened at $0.83. Eleven Biotherapeutics shares last traded at $0.97, with a volume of 8694100 shares.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 30,600 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Eleven Biotherapeutics in the 2nd quarter valued at about $175,000. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Eleven Biotherapeutics in the 3rd quarter valued at about $382,000. Institutional investors own 3.84% of the company’s stock.

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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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