AEON Biopharma (NASDAQ:AEON) Stock Breaks Above 50-Day Moving Average – Here’s What Happened
by Tristan Rich · The Markets DailyAEON Biopharma, Inc. (NASDAQ:AEON – Get Free Report)’s stock price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $0.26 and traded as high as $0.2690. AEON Biopharma shares last traded at $0.2640, with a volume of 728,058 shares traded.
Analysts Set New Price Targets
Several research firms have commented on AEON. Lake Street Capital restated a “buy” rating and issued a $2.00 price target (up from $1.00) on shares of AEON Biopharma in a report on Thursday, October 1st. HC Wainwright reiterated a “buy” rating and set a $1.20 price objective (down from $5.00) on shares of AEON Biopharma in a report on Friday, August 14th. Finally, Laidlaw began coverage on shares of AEON Biopharma in a research report on Wednesday, September 9th. They issued a “buy” rating and a $1.80 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, AEON Biopharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $1.67.
Read Our Latest Report on AEON
AEON Biopharma Stock Performance
The firm has a market capitalization of $13.67 million, a price-to-earnings ratio of 1.52 and a beta of 0.69. The business has a fifty day moving average price of $0.26 and a 200 day moving average price of $0.68.
Insider Buying and Selling
In other news, major shareholder Timothy P. Lynch acquired 1,150,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $0.21 per share, for a total transaction of $241,500.00. Following the acquisition, the insider directly owned 6,500,000 shares in the company, valued at $1,365,000. This trade represents a 21.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.40% of the stock is owned by corporate insiders.
About AEON Biopharma
AEON Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing botulinum toxin-based therapies for therapeutic, rather than primarily aesthetic, applications. Its lead product candidate, ABP-450, is an investigational botulinum toxin type A complex being studied for the treatment of neurological and other medical conditions.
AEON Biopharma has advanced ABP-450 in clinical development for conditions including chronic migraine and cervical dystonia, a disorder involving involuntary neck-muscle contractions.