AEON Biopharma (NASDAQ:AEON) Stock Price Down 3.8% – Here’s What Happened

AEON Biopharma, Inc. (NASDAQ:AEON)’s stock price traded down 3.8% on Wednesday . The stock 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 stock has a market capitalization of $10.42 million, a P/E ratio of 0.72 and a beta of 0.06. The company’s 50-day simple moving average is $0.38 and its 200-day simple moving average is $0.78.

Institutional Trading of AEON Biopharma

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

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.