AEON Biopharma (NASDAQ:AEON) Stock Price Down 3.8% – What’s Next?

Shares of AEON Biopharma, Inc. (NASDAQ:AEON) dropped 3.8% during trading on Wednesday . The company traded as low as $0.12 and last traded at $0.12. Approximately 1,866,356 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 43,042,156 shares. The stock had previously closed at $0.13.

AEON Biopharma Price Performance

The firm has a market cap of $10.42 million, a P/E ratio of 0.72 and a beta of 0.06. The company’s 50-day moving average is $0.38 and its two-hundred day moving average is $0.78.

Institutional Trading of AEON Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in AEON Biopharma in the third quarter valued at approximately $25,000. Caprock Group LLC acquired a new stake in shares of AEON Biopharma in the 3rd quarter valued at $66,000. Finally, Geode Capital Management LLC increased its stake in shares of AEON Biopharma by 30.1% in 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 last quarter. Institutional investors own 22.78% of the company’s stock.

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.