AEON Biopharma (NASDAQ:AEON) Stock Price Down 9.9% – What’s Next?

AEON Biopharma, Inc. (NASDAQ:AEON)’s share price was down 9.9% on Tuesday . The stock traded as low as $0.13 and last traded at $0.13. Approximately 8,282,109 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 25,542,566 shares. The stock had previously closed at $0.14.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of AEON Biopharma in a research report on Tuesday, October 1st.

AEON Biopharma Stock Performance

The stock’s fifty day simple moving average is $0.57 and its 200-day simple moving average is $0.96. The stock has a market cap of $5.08 million, a P/E ratio of 0.71 and a beta of 0.18.

Hedge Funds Weigh In On AEON Biopharma

A number of hedge funds have recently added to or reduced their stakes in the stock. Caprock Group LLC bought a new position in shares of AEON Biopharma in the third quarter worth $66,000. HighTower Advisors LLC acquired a new stake in AEON Biopharma during the third quarter worth about $25,000. Finally, Geode Capital Management LLC increased its holdings in AEON Biopharma by 30.1% in the 3rd quarter. Geode Capital Management LLC now owns 243,168 shares of the company’s stock valued at $255,000 after buying an additional 56,310 shares during the period. Institutional investors own 22.78% of the company’s stock.

AEON Biopharma Company Profile

AEON Biopharma, Inc, a clinical stage biopharmaceutical company, focuses on developing botulinum toxins. It develops ABP-450 (prabotulinumtoxinA) injection for debilitating medical conditions, which completed Phase 2 study for the treatment of cervical dystonia and has an ongoing Phase 2 study for the treatment of both chronic and episodic migraine, as well as develops ABP-450 for the treatment of gastroparesis and posttraumatic stress disorder.