Auris Medical (EARS) Stock Price Down 20.9%

Auris Medical Holding AG (NASDAQ:EARS) fell 20.9% during mid-day trading on Wednesday . The stock traded as low as $1.05 and last traded at $1.17. 21,237,734 shares changed hands during trading, an increase of 938% from the average session volume of 2,046,450 shares. The stock had previously closed at $1.48.

Separately, Eurobank EFG began coverage on Auris Medical in a research note on Monday, October 8th. They set a “buy” rating and a $2.50 target price for the company.

Auris Medical (NASDAQ:EARS) last released its quarterly earnings results on Wednesday, August 15th. The biotechnology company reported ($0.51) EPS for the quarter.

A hedge fund recently bought a new stake in Auris Medical stock. Bellevue Group AG purchased a new position in shares of Auris Medical Holding AG (NASDAQ:EARS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 193,125 shares of the biotechnology company’s stock, valued at approximately $151,000. Bellevue Group AG owned 3.16% of Auris Medical as of its most recent SEC filing. Hedge funds and other institutional investors own 17.96% of the company’s stock.

About Auris Medical (NASDAQ:EARS)

Auris Medical Holding AG, a clinical-stage biopharmaceutical company, focuses on the development of novel products for the treatment of inner ear disorders. Its product candidates include AM-101, which is in phase III clinical development for the treatment of acute inner ear tinnitus; and AM-111 that is in phase III clinical development for the treatment of acute inner ear hearing loss.

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