Insider Buying: Scilex Holding (NASDAQ:SCLX) Director Purchases 57,500 Shares of Stock

Scilex Holding (NASDAQ:SCLXGet Free Report) Director Jay Chun purchased 57,500 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $0.90 per share, for a total transaction of $51,750.00. Following the acquisition, the director now directly owns 102,500 shares in the company, valued at approximately $92,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Scilex Price Performance

NASDAQ SCLX opened at $0.90 on Friday. The stock has a 50-day simple moving average of $1.17 and a 200 day simple moving average of $1.43. Scilex Holding has a twelve month low of $0.73 and a twelve month high of $8.37.

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

Hedge Funds Weigh In On Scilex

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in Scilex in the 3rd quarter valued at approximately $68,000. Hudson Bay Capital Management LP acquired a new stake in shares of Scilex during the 3rd quarter worth approximately $665,000. Donald L. Hagan LLC increased its position in shares of Scilex by 49.1% during the fourth quarter. Donald L. Hagan LLC now owns 52,343 shares of the company’s stock valued at $107,000 after purchasing an additional 17,245 shares during the period. Focus Financial Network Inc. ADV acquired a new position in shares of Scilex in the fourth quarter valued at $58,000. Finally, Collective Family Office LLC lifted its position in Scilex by 68.4% in the first quarter. Collective Family Office LLC now owns 21,950 shares of the company’s stock worth $35,000 after purchasing an additional 8,918 shares during the period. 69.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright reduced their price objective on shares of 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 Analysis on SCLX

Scilex Company Profile

(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.

Further Reading

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