Shares of Auris Medical Holding AG (NASDAQ:EARS) are up big for the second trading day in a row, without any major news coming from the company. While shares are up a staggering 40+% over the last two trading days, and have hit new 52-week-high, many traders are claiming that the rapid rise is due to nothing more than a concerted pump by stock promoters. While this could in fact be the case, being that there is no news coming from the company, such a move on this volume would require an impressive team to pump the stock. Shares have traded over $10 million in volume in the first two hours of trading today alone.
Institutions hold a large portion of the equity in this company and the stock had been beaten down quite hard prior to this run, making us believe that a short squeeze may be occurring. It will be interesting to see how shares of Auris Medical Holding AG (NASDAQ:EARS) trade after lunch, and throughout the remainder of this week. The stock is up 23.40% or $1.39 following the news, hitting $7.33 per share. About 1.81M shares traded hands or up 382.21% from the average. EARS has risen 22.98% since June 2, 2015 and is currently uptrending. It has outperformed the S&P500 by 27.67%.
Auris Medical Holding AG is a holding company. The company has a market cap of $221.37 million. The Firm is a development-stage biopharmaceutical company. It currently has negative earnings. The Company’s advanced product candidate is AM-101 for acute inner ear tinnitus.