AEON Biopharma (NASDAQ:AEON) Stock Rating Upgraded by Zacks Research

AEON Biopharma (NASDAQ:AEON) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

AEON Biopharma Stock Down 4.5%

AEON opened at $0.72 on Wednesday. The firm has a market cap of $18.12 million, a price-to-earnings ratio of 3.98 and a beta of 0.66. AEON Biopharma has a 52 week low of $0.53 and a 52 week high of $1.45. The business’s 50 day moving average is $0.94 and its two-hundred day moving average is $1.00.

Hedge Funds Weigh In On AEON Biopharma

An institutional investor recently raised its position in AEON Biopharma stock. XTX Topco Ltd increased its holdings in AEON Biopharma, Inc. (NASDAQ:AEON) by 251.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,852 shares of the company’s stock after acquiring an additional 40,690 shares during the quarter. XTX Topco Ltd owned approximately 0.48% of AEON Biopharma worth $63,000 at the end of the most recent quarter. 22.78% of the stock is currently owned by institutional investors and hedge funds.

AEON Biopharma Company Profile

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.