AEON Biopharma (NASDAQ:AEON) Trading Down 2.7% – What’s Next?

Posted by Defense World Staff on Oct 23rd, 2024

AEON Biopharma, Inc. (NASDAQ:AEON – Get Free Report) shares fell 2.7% during trading on Tuesday . The company traded as low as $0.96 and last traded at $0.98. 77,797 shares were traded during trading, a decline of 87% from the average session volume of 598,428 shares. The stock had previously closed at $1.01.

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 note on Tuesday, October 1st.

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AEON Biopharma Stock Down 2.7 %

The company has a 50 day moving average of $0.94 and a 200 day moving average of $1.95.

AEON Biopharma (NASDAQ:AEON – Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. Analysts forecast that AEON Biopharma, Inc. will post -0.77 EPS for the current year.

Hedge Funds Weigh In On AEON Biopharma

An institutional investor recently raised its position in AEON Biopharma stock. Vanguard Group Inc. grew its stake in shares of AEON Biopharma, Inc. (NASDAQ:AEON – Free Report) by 261.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 758,992 shares of the company’s stock after purchasing an additional 549,207 shares during the quarter. Vanguard Group Inc. owned approximately 2.01% of AEON Biopharma worth $8,804,000 as of its most recent SEC filing. Institutional investors and hedge funds own 22.78% of the company’s stock.

AEON Biopharma Company Profile

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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.