Eleven Biotherapeutics Inc (NASDAQ:EBIO) shot up 20.3% during trading on Wednesday . The company traded as high as $0.84 and last traded at $0.83. 5,526,200 shares traded hands during mid-day trading, an increase of 898% from the average session volume of 553,773 shares. The stock had previously closed at $0.69.

A number of large investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan acquired a new position in Eleven Biotherapeutics in the third quarter valued at about $382,000. Virtu KCG Holdings LLC acquired a new position in shares of Eleven Biotherapeutics during the second quarter worth about $175,000. Finally, Vanguard Group Inc. boosted its position in shares of Eleven Biotherapeutics by 17.4% during the second quarter. Vanguard Group Inc. now owns 206,450 shares of the biopharmaceutical company’s stock worth $324,000 after buying an additional 30,600 shares during the period. 3.84% of the stock is owned by hedge funds and other institutional investors.

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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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