Timothy Lynch Acquires 1,150,000 Shares of AEON Biopharma (NASDAQ:AEON) Stock

AEON Biopharma, Inc. (NASDAQ:AEON) major shareholder Timothy Lynch acquired 1,150,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $0.21 per share, with a total value of $241,500.00. Following the transaction, the insider directly owned 6,500,000 shares of the company’s stock, valued at $1,365,000. This represents a 21.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AEON Biopharma Stock Down 0.5%

AEON opened at $0.19 on Friday. The firm’s 50 day moving average is $0.44 and its 200-day moving average is $0.78. AEON Biopharma, Inc. has a 52-week low of $0.18 and a 52-week high of $1.45. The firm has a market capitalization of $4.86 million, a P/E ratio of 1.07 and a beta of 0.65.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $1.20 price objective (down from $5.00) on shares of AEON Biopharma in a report on Friday, August 14th. Lake Street Capital began coverage on AEON Biopharma in a research note on Thursday, July 30th. They set a “buy” rating and a $1.00 target price for the company. Finally, Zacks Research raised AEON Biopharma to a “hold” rating in a research report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1.10.

Hedge Funds Weigh In On AEON Biopharma

An institutional investor recently raised its stake in AEON Biopharma stock. XTX Topco Ltd lifted its stake in shares of AEON Biopharma, Inc. (NASDAQ:AEON) by 251.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,852 shares of the company’s stock after buying an additional 40,690 shares during the quarter. XTX Topco Ltd owned approximately 0.48% of AEON Biopharma worth $63,000 as of its most recent filing with the Securities and Exchange Commission. 22.78% of the stock is currently owned by hedge funds and other institutional investors.

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.