AEON Biopharma (NASDAQ:AEON) Trading Up 5% – Here’s Why

AEON Biopharma, Inc. (NASDAQ:AEON)’s stock price traded up 5% during trading on Tuesday . The stock traded as high as $0.6981 and last traded at $0.6921. 23,811 shares changed hands during trading, a decline of 80% from the average session volume of 117,744 shares. The stock had previously closed at $0.6592.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised AEON Biopharma to a “hold” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

AEON Biopharma Price Performance

The stock’s 50-day moving average price is $0.83 and its 200 day moving average price is $0.98. The firm has a market capitalization of $17.46 million, a PE ratio of 3.83 and a beta of 0.61.

Hedge Funds Weigh In On AEON Biopharma

An institutional investor recently raised its position in AEON Biopharma stock. Geode Capital Management LLC lifted its holdings in AEON Biopharma, Inc. (NASDAQ:AEON) by 27.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 60,134 shares of the company’s stock after purchasing an additional 13,061 shares during the period. Geode Capital Management LLC owned about 0.51% of AEON Biopharma worth $66,000 at the end of the most recent quarter. Institutional investors own 22.78% of the company’s stock.

About AEON Biopharma

AEON Biopharma, Inc, formerly Allied Energy Corp., is a clinical‐stage biopharmaceutical company focused on developing and commercializing treatments for rare and orphan diseases. The company applies enzyme replacement and gene therapy platforms to address unmet medical needs in central nervous system and metabolic disorders. Its lead program, AES-103, is being developed as an enzyme replacement therapy for Crigler-Najjar syndrome, a hereditary condition characterized by high levels of unconjugated bilirubin.

Beyond AES-103, AEON Biopharma is advancing AES-201 for X-linked adrenoleukodystrophy (X-ALD), a progressive neurological disorder, and AES-104 for post–COVID-19 conditions, commonly referred to as “long COVID.” These programs are in preclinical or early clinical stages, with ongoing efforts to optimize delivery, evaluate safety profiles and establish proof of concept.