AEON Biopharma (NASDAQ:AEON) Trading Up 10% – Should You Buy?

AEON Biopharma, Inc. (NASDAQ:AEON) was up 10% during trading on Tuesday . The stock traded as high as $0.95 and last traded at $0.94. Approximately 492,073 shares were traded during trading, a decline of 64% from the average daily volume of 1,382,204 shares. The stock had previously closed at $0.85.

AEON Biopharma Stock Up 10.0%

The stock’s 50 day moving average price is $0.76 and its two-hundred day moving average price is $0.67. The stock has a market cap of $10.89 million, a price-to-earnings ratio of 5.20 and a beta of 0.74.

Hedge Funds Weigh In On AEON Biopharma

A hedge fund recently bought a new stake in AEON Biopharma stock. Dauntless Investment Group LLC bought a new position in AEON Biopharma, Inc. (NASDAQ:AEON) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,025,000 shares of the company’s stock, valued at approximately $594,000. AEON Biopharma comprises 0.7% of Dauntless Investment Group LLC’s holdings, making the stock its 18th biggest holding. Dauntless Investment Group LLC owned approximately 9.73% of AEON Biopharma 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, 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.