Insider Buying: Scilex Holding (NASDAQ:SCLX) Insider Acquires 83,061 Shares of Stock

Scilex Holding (NASDAQ:SCLXGet Free Report) insider Jaisim Shah acquired 83,061 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were bought at an average cost of $0.84 per share, for a total transaction of $69,771.24. Following the transaction, the insider now directly owns 98,943 shares in the company, valued at $83,112.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Scilex Stock Performance

Scilex stock opened at $0.90 on Friday. Scilex Holding has a fifty-two week low of $0.73 and a fifty-two week high of $8.37. The firm’s 50-day simple moving average is $1.17 and its 200 day simple moving average is $1.43.

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 company had revenue of $13.46 million during the quarter, compared to analyst estimates of $11.43 million. As a group, equities analysts expect that Scilex Holding will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Scilex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Scilex by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,988,265 shares of the company’s stock valued at $6,341,000 after acquiring an additional 55,757 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Scilex in the third quarter valued at $665,000. Donald L. Hagan LLC lifted its holdings in 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 last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Scilex during the 3rd quarter valued at approximately $68,000. Finally, Focus Financial Network Inc. ADV purchased a new position in Scilex in the 4th quarter valued at approximately $58,000. 69.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Get Our Latest Research Report on Scilex

Scilex Company Profile

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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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