AEON Biopharma, Inc. (NASDAQ:AEON) Sees Significant Decline in Short Interest

AEON Biopharma, Inc. (NASDAQ:AEON) was the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 254,000 shares, a decline of 22.6% from the July 31st total of 328,300 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily volume of 697,200 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 697,200 shares, the short-interest ratio is currently 0.4 days. Approximately 2.8% of the shares of the company are short sold.

Institutional Trading of AEON Biopharma

A hedge fund recently raised its stake in AEON Biopharma stock. Formidable Asset Management LLC increased its position in shares of AEON Biopharma, Inc. (NASDAQ:AEON) by 76.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 689,182 shares of the company’s stock after purchasing an additional 299,400 shares during the period. Formidable Asset Management LLC owned about 0.86% of AEON Biopharma worth $372,000 at the end of the most recent reporting period. 22.78% of the stock is currently owned by hedge funds and other institutional investors.

AEON Biopharma Trading Up 3.2%

AEON opened at $0.75 on Wednesday. The stock has a market cap of $8.72 million, a PE ratio of 4.16 and a beta of 0.71. AEON Biopharma has a 1 year low of $0.38 and a 1 year high of $115.57. The stock’s 50 day simple moving average is $0.77 and its 200-day simple moving average is $0.72.

About AEON Biopharma

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.