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

AEON Biopharma, Inc. (NASDAQ:AEON) rose 5% on Monday . The stock traded as high as $1.45 and last traded at $1.26. Approximately 413,781 shares changed hands during trading, an increase of 103% from the average daily volume of 203,605 shares. The stock had previously closed at $1.20.

Analyst Upgrades and Downgrades

Several research analysts have commented on AEON shares. HC Wainwright raised shares of AEON Biopharma to a “strong-buy” rating in a research note on Friday, November 14th. Zacks Research upgraded shares of AEON Biopharma to a “hold” rating in a report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, AEON Biopharma presently has a consensus rating of “Buy”.

AEON Biopharma Stock Performance

The firm has a fifty day simple moving average of $1.11 and a 200 day simple moving average of $0.94. The company has a market capitalization of $14.92 million, a PE ratio of 7.00 and a beta of 0.72.

Institutional Investors 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 and hedge funds 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.