Jaisim Shah Buys 30,000 Shares of Scilex Holding (NASDAQ:SCLX) Stock

Scilex Holding (NASDAQ:SCLX) insider Jaisim Shah acquired 30,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average cost of $0.46 per share, with a total value of $13,800.00. Following the completion of the acquisition, the insider now directly owns 139,333 shares of the company’s stock, valued at $64,093.18. The trade was a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Jaisim Shah also recently made the following trade(s):

• On Tuesday, October 29th, Jaisim Shah purchased 32,000 shares of Scilex stock. The stock was acquired at an average price of $0.99 per share, for a total transaction of $31,680.00.
• On Wednesday, October 16th, Jaisim Shah purchased 30,000 shares of Scilex stock. The shares were acquired at an average cost of $0.99 per share, for a total transaction of $29,700.00.

Scilex Stock Performance

Shares of Scilex stock opened at $0.44 on Friday. Scilex Holding has a one year low of $0.44 and a one year high of $2.63. The company has a market cap of $84.45 million, a PE ratio of -0.31 and a beta of 0.96. The business has a 50-day simple moving average of $0.74 and a 200-day simple moving average of $1.15.

Institutional Investors Weigh In On Scilex

Institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC acquired a new stake in Scilex in the 2nd quarter worth about $23,064,000. XTX Topco Ltd raised its position in shares of Scilex by 321.4% in the 2nd quarter. XTX Topco Ltd now owns 105,431 shares of the company’s stock worth $203,000 after buying an additional 80,409 shares during the period. State Street Corp boosted its holdings in Scilex by 0.7% in the third quarter. State Street Corp now owns 7,484,310 shares of the company’s stock valued at $6,920,000 after acquiring an additional 54,404 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Scilex by 3.5% during the 3rd quarter. Janus Henderson Group PLC now owns 534,302 shares of the company’s stock worth $494,000 after purchasing an additional 17,848 shares during the period. Finally, Donald L. Hagan LLC grew its stake in shares of Scilex by 15.4% in the third quarter. Donald L. Hagan LLC now owns 130,792 shares of the company’s stock valued at $121,000 after buying an additional 17,500 shares in the last quarter. 69.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SCLX shares. Alliance Global Partners began coverage on Scilex in a report on Wednesday, October 16th. They issued a “buy” rating and a $14.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Scilex in a research note on Monday, October 21st.

Scilex Company Profile

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.