Have Eleven Biotherapeutics Inc (EBIO) Shares Finally Bottomed?


At the end of 2016 shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) were trading north of $3. Fast forward a few weeks and the stock is now down to $0.37 a share. The cause? Failed clinical trials of their pink eye drug.

Investors now are questioning just how low will the stock go. After three full days in the red, today could be the day that the stock bounces back a bit following an upgrade to a ‘buy’ by Zacks Investment Research. Although the company’s pipeline certainly isn’t great, they have a solid balance sheet and could certainly be a buyout target due to their meager market cap of just $7.25 million. Shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) have traded as high as $13.77 over the last 52 weeks and is currently a penny north of yesterday’s new all time low of $0.36 per share.

The stock decreased 1.36% or $0.005 on January 21, hitting $0.37. Approximately shares traded hands. EBIO shares have declined 86.69% since June 17, 2015 and are currently downtrending. It has underperformed the S&P500 by 77.82%.

The institutional sentiment decreased to 0.64 in Q2 2015. It’s down 0.29, from 0.93 in 2015Q2. The ratio dropped, as 16 funds sold all their Eleven Biotherapeutics Inc shares they owned while 6 reduced their positions. 6 funds bought stakes while 8 increased their total positions. Institutions now own 18.60 million shares which is 31.23% more than the previous share count of 14.17 million in 2015Q2.

Flagship Ventures 2007 General Partner Llc holds 2.89% of its total portfolio in Eleven Biotherapeutics Inc, equating to 1.91 million shares. Third Rock Ventures Llc owns 4.84 million shares representing 1.09% of their total US portfolio. Moreover, Rotella Capital Management Inc. has 0.15% of their total portfolio invested in the company, equating to 190,947 shares. The California-based Redmile Group Llc has a total of 0.04% of their portfolio invested in the stock. Sabby Management Llc, a New Jersey-based fund reported 171,541 shares owned.

Eleven Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company. The company has a market cap of $7.25 million. The Firm through AMP-Rx, a protein engineering platform, is engaged in the discovery and development of protein therapeutics to treat diseases of the eye. It currently has negative earnings. The Firm designs, engineers and generates a pipeline of protein therapeutic candidates that target cytokines, which are central to diseases of the eye.