Jaisim Shah Acquires 83,061 Shares of Scilex Holding (NASDAQ:SCLX) Stock

Scilex Holding (NASDAQ:SCLXGet Free Report) insider Jaisim Shah acquired 83,061 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average price of $0.84 per share, with a total value of $69,771.24. Following the completion of the acquisition, the insider now owns 98,943 shares of the company’s stock, valued at approximately $83,112.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Scilex Trading Up 3.4 %

Shares of SCLX stock opened at $0.90 on Friday. The business’s 50 day moving average is $1.17 and its two-hundred day moving average is $1.43. Scilex Holding has a 12 month low of $0.73 and a 12 month high of $8.37.

Scilex (NASDAQ:SCLXGet Free Report) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The business had revenue of $13.46 million for the quarter, compared to the consensus estimate of $11.43 million. As a group, research analysts forecast that Scilex Holding will post -0.63 EPS for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright lowered their price target on Scilex from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 3rd.

Check Out Our Latest Research Report on Scilex

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SCLX. Vanguard Group Inc. grew its stake in shares of Scilex by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,988,265 shares of the company’s stock worth $6,341,000 after acquiring an additional 55,757 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in Scilex in the 3rd quarter worth $665,000. Donald L. Hagan LLC increased its holdings in shares of Scilex by 49.1% during the 4th quarter. Donald L. Hagan LLC now owns 52,343 shares of the company’s stock worth $107,000 after purchasing an additional 17,245 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Scilex during the third quarter valued at about $68,000. Finally, Focus Financial Network Inc. ADV acquired a new stake in Scilex during the fourth quarter worth about $58,000. 69.67% of the stock is owned by institutional investors.

About Scilex

(Get Free Report)

Scilex Holding Company focuses on acquiring, developing, and commercializing non-opioid pain management products for the treatment of acute and chronic pain. Its commercial products include ZTlido (lidocaine topical system) 1.8% (ZTlido), a prescription lidocaine topical product for the relief of neuropathic pain associated with postherpetic neuralgia (PHN), which is a form of post-shingles nerve pain; ELYXYB, a ready-to-use oral solution for the acute treatment of migraine with or without aura in adults; and GLOPERBA, a liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults.

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