Eleven Biotherapeutics, Inc. (NASDAQ:EBIO) shares were up 10.4% during trading on Monday . The stock traded as high as $0.80 and last traded at $0.74. Approximately 6,061,900 shares changed hands during mid-day trading, an increase of 1,262% from the average daily volume of 445,089 shares. The stock had previously closed at $0.67.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spark Investment Management LLC bought a new position in Eleven Biotherapeutics in the 2nd quarter worth approximately $148,000. Virtu KCG Holdings LLC bought a new position in Eleven Biotherapeutics in the 2nd quarter worth approximately $175,000. 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 worth $324,000 after buying an additional 30,600 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in Eleven Biotherapeutics in the 3rd quarter worth approximately $382,000. 4.91% of the stock is owned by 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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