AEON Biopharma (NASDAQ:AEON) Trading Up 12.7% – Still a Buy?

AEON Biopharma, Inc. (NASDAQ:AEON)’s stock price rose 12.7% during mid-day trading on Friday . The stock traded as high as $0.3799 and last traded at $0.3269. 30,623,907 shares changed hands during mid-day trading, an increase of 1,191% from the average session volume of 2,372,088 shares. The stock had previously closed at $0.29.

Analysts Set New Price Targets

AEON has been the subject of a number of recent analyst reports. Zacks Research raised AEON Biopharma to a “hold” rating in a report on Wednesday, May 27th. HC Wainwright reissued a “buy” rating and set a $1.20 price objective (down from $5.00) on shares of AEON Biopharma in a research note on Friday, August 14th. Laidlaw assumed coverage on AEON Biopharma in a report on Wednesday. They set a “buy” rating and a $1.80 target price on the stock. Finally, Lake Street Capital initiated coverage on AEON Biopharma in a research report on Thursday, July 30th. They set a “buy” rating and a $1.00 price target for the company. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AEON Biopharma presently has an average rating of “Moderate Buy” and a consensus target price of $1.33.

AEON Biopharma Stock Up 12.7%

The business’s fifty day moving average price is $0.30 and its 200 day moving average price is $0.70. The firm has a market capitalization of $16.31 million, a PE ratio of 1.82 and a beta of 0.65.

Insider Activity

In other AEON Biopharma news, major shareholder Timothy P. Lynch acquired 1,150,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average price of $0.21 per share, with a total value of $241,500.00. Following the completion of the transaction, the insider directly owned 6,500,000 shares in the company, valued at approximately $1,365,000. This trade represents a 21.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 9.40% of the stock is owned by company insiders.

Institutional Trading of AEON Biopharma

A hedge fund recently raised its stake in AEON Biopharma stock. Geode Capital Management LLC increased its stake in AEON Biopharma, Inc. (NASDAQ:AEON) by 27.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,134 shares of the company’s stock after acquiring an additional 13,061 shares during the period. Geode Capital Management LLC owned approximately 0.51% of AEON Biopharma worth $66,000 as of its most recent SEC filing. Institutional investors and hedge funds own 22.78% of the company’s stock.

AEON Biopharma Company Profile

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.