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

AEON Biopharma, Inc. (NASDAQ:AEON) major shareholder Timothy Lynch bought 1,150,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was bought at an average price of $0.21 per share, for a total transaction of $241,500.00. Following the completion of the purchase, the insider directly owned 6,500,000 shares in the company, valued at approximately $1,365,000. The trade was a 21.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

AEON Biopharma Stock Performance

AEON traded down $0.00 during trading on Friday, hitting $0.19. The stock had a trading volume of 1,694,684 shares, compared to its average volume of 775,456. AEON Biopharma, Inc. has a twelve month low of $0.18 and a twelve month high of $1.45. The company’s 50-day moving average price is $0.44 and its 200 day moving average price is $0.78. The firm has a market capitalization of $4.86 million, a P/E ratio of 1.07 and a beta of 0.65.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AEON. Lake Street Capital assumed coverage on shares of AEON Biopharma in a report on Thursday, July 30th. They issued a “buy” rating and a $1.00 price target for the company. Zacks Research upgraded AEON Biopharma to a “hold” rating in a research report on Wednesday, May 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $1.20 price target (down from $5.00) on shares of AEON Biopharma in a research note on Friday, August 14th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AEON Biopharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $1.10.

Institutional Trading of AEON Biopharma

An institutional investor recently raised its stake in AEON Biopharma stock. Geode Capital Management LLC raised its stake in shares of AEON Biopharma, Inc. (NASDAQ:AEON) by 27.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,134 shares of the company’s stock after purchasing an additional 13,061 shares during the period. Geode Capital Management LLC owned 0.51% of AEON Biopharma worth $66,000 at the end of the most recent reporting period. Institutional investors own 22.78% of the company’s stock.

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.