AEON Biopharma (NASDAQ:AEON) Shares Down 7.6% – What’s Next?

AEON Biopharma, Inc. (NASDAQ:AEON) traded down 7.6% on Friday . The stock traded as low as $0.65 and last traded at $0.67. 456,838 shares traded hands during trading, a decline of 43% from the average session volume of 798,519 shares. The stock had previously closed at $0.73.

AEON Biopharma Price Performance

The company has a fifty day simple moving average of $6.06 and a two-hundred day simple moving average of $37.45. The company has a market capitalization of $745,040.00, a P/E ratio of 3.72 and a beta of 0.26.

Hedge Funds Weigh In On AEON Biopharma

A number of institutional investors have recently made changes to their positions in AEON. Formidable Asset Management LLC increased its stake 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 worth $372,000 after purchasing an additional 299,400 shares during the period. Caprock Group LLC bought a new position in shares of AEON Biopharma in the third quarter worth about $66,000. Geode Capital Management LLC increased its stake in shares of AEON Biopharma by 30.1% in the third quarter. Geode Capital Management LLC now owns 243,168 shares of the company’s stock worth $255,000 after purchasing an additional 56,310 shares during the period. Finally, HighTower Advisors LLC bought a new position in shares of AEON Biopharma in the third quarter worth about $25,000. 22.78% of the stock is currently owned by institutional investors.

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.