AEON Biopharma (NASDAQ:AEON) Stock Price Down 6.5% – What’s Next?

Shares of AEON Biopharma, Inc. (NASDAQ:AEON) fell 6.5% during trading on Wednesday . The stock traded as low as $0.69 and last traded at $0.70. 204,474 shares were traded during mid-day trading, a decline of 64% from the average session volume of 562,368 shares. The stock had previously closed at $0.75.

Wall Street Analysts Forecast Growth

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

AEON Biopharma Trading Up 0.9 %

The business has a 50 day moving average price of $0.92 and a 200-day moving average price of $1.31. The firm has a market capitalization of $24.14 million, a PE ratio of 3.39 and a beta of 0.40.

AEON Biopharma (NASDAQ:AEON) last issued its 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. On average, equities research analysts forecast that AEON Biopharma, Inc. will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AEON. HighTower Advisors LLC acquired a new stake in shares of AEON Biopharma during the 3rd quarter worth about $25,000. Caprock Group LLC acquired a new stake in AEON Biopharma during the third quarter worth approximately $66,000. Finally, Vanguard Group Inc. grew its stake in AEON Biopharma by 261.8% in the 1st quarter. Vanguard Group Inc. now owns 758,992 shares of the company’s stock worth $8,804,000 after acquiring an additional 549,207 shares during the period. 22.78% of the stock is owned by hedge funds and other 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.