AEON Biopharma (NASDAQ:AEON) Shares Down 2.7% – Here’s Why

AEON Biopharma, Inc. (NASDAQ:AEON) shares fell 2.7% during mid-day 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 Ratings Changes

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

AEON Biopharma Stock Performance

The firm has a 50 day moving average price of $0.94 and a two-hundred day moving average price of $1.89.

AEON Biopharma (NASDAQ:AEON) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. Sell-side analysts predict that AEON Biopharma, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Trading of AEON Biopharma

A hedge fund recently raised its stake in AEON Biopharma stock. Vanguard Group Inc. grew its stake in AEON Biopharma, Inc. (NASDAQ:AEON) by 261.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 filing with the SEC. Institutional investors and hedge funds 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.