AEON Biopharma (NASDAQ:AEON) Shares Up 2.5% – What’s Next?

AEON Biopharma, Inc. (NASDAQ:AEON) was up 2.5% during mid-day trading on Monday . The company traded as high as $0.43 and last traded at $0.41. Approximately 393,328 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 829,963 shares. The stock had previously closed at $0.40.

AEON Biopharma Stock Up 2.5 %

The firm has a 50 day moving average of $2.83 and a 200-day moving average of $30.63. The company has a market cap of $4.32 million, a P/E ratio of 2.28 and a beta of 0.35.

Hedge Funds Weigh In On AEON Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Formidable Asset Management LLC raised its holdings in shares of AEON Biopharma by 76.8% in the fourth quarter. Formidable Asset Management LLC now owns 689,182 shares of the company’s stock valued at $372,000 after acquiring an additional 299,400 shares in the last quarter. Geode Capital Management LLC increased its position in AEON Biopharma by 30.1% during the 3rd quarter. Geode Capital Management LLC now owns 243,168 shares of the company’s stock valued at $255,000 after purchasing an additional 56,310 shares during the period. Finally, HighTower Advisors LLC purchased a new position in AEON Biopharma during the 3rd quarter valued at about $25,000. 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.