AEON Biopharma (NASDAQ:AEON) Trading 2.5% Higher – Time to Buy?

AEON Biopharma, Inc. (NASDAQ:AEON) was up 2.5% during mid-day trading on Monday . The stock traded as high as $0.43 and last traded at $0.41. Approximately 393,328 shares changed hands during 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 Performance

The stock has a market cap of $4.32 million, a P/E ratio of 2.28 and a beta of 0.35. The stock’s fifty day moving average is $2.83 and its 200 day moving average is $30.63.

Institutional Investors Weigh In On AEON Biopharma

Several institutional investors have recently modified their holdings of the stock. Formidable Asset Management LLC increased its position in shares of AEON Biopharma by 76.8% during the 4th quarter. Formidable Asset Management LLC now owns 689,182 shares of the company’s stock valued at $372,000 after purchasing an additional 299,400 shares during the last quarter. Geode Capital Management LLC boosted its stake in AEON Biopharma by 30.1% during the third quarter. Geode Capital Management LLC now owns 243,168 shares of the company’s stock worth $255,000 after buying an additional 56,310 shares during the period. Finally, HighTower Advisors LLC bought a new position in AEON Biopharma during the third quarter valued at $25,000. 22.78% of the stock is owned by institutional investors.

About AEON Biopharma

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.