Insider Buying: Scilex Holding (NASDAQ:SCLX) Insider Acquires 32,000 Shares of Stock

Scilex Holding (NASDAQ:SCLX) insider Jaisim Shah acquired 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average price of $0.99 per share, with a total value of $31,680.00. Following the completion of the acquisition, the insider now directly owns 109,333 shares of the company’s stock, valued at $108,239.67. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, October 16th, Jaisim Shah bought 30,000 shares of Scilex stock. The shares were purchased at an average price of $0.99 per share, with a total value of $29,700.00.

Scilex Trading Up 1.3 %

Shares of NASDAQ SCLX traded up $0.01 during midday trading on Tuesday, hitting $1.00. 1,822,064 shares of the company’s stock were exchanged, compared to its average volume of 1,139,425. The company has a market cap of $190.83 million, a price-to-earnings ratio of -0.70 and a beta of 1.15. Scilex Holding has a 12-month low of $0.73 and a 12-month high of $2.63. The business’s fifty day moving average price is $0.99 and its two-hundred day moving average price is $1.22.

Scilex (NASDAQ:SCLX) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.02. The company had revenue of $16.37 million for the quarter, compared to analysts’ expectations of $13.17 million. Equities analysts expect that Scilex Holding will post -0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SCLX has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Scilex in a report on Monday, October 21st. Alliance Global Partners started coverage on shares of Scilex in a research note on Wednesday, October 16th. They issued a “buy” rating and a $14.00 price target on the stock.

Institutional Trading of Scilex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new stake in Scilex in the 2nd quarter worth about $25,000. Bank of New York Mellon Corp acquired a new stake in Scilex in the second quarter valued at approximately $31,000. Donald L. Hagan LLC boosted its holdings in Scilex by 59.5% in the second quarter. Donald L. Hagan LLC now owns 113,292 shares of the company’s stock worth $219,000 after acquiring an additional 42,245 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Scilex by 1.4% during the first quarter. Vanguard Group Inc. now owns 3,988,265 shares of the company’s stock valued at $6,341,000 after buying an additional 55,757 shares during the last quarter. Finally, XTX Topco Ltd raised its position in Scilex by 321.4% during 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 last quarter. Institutional investors own 69.67% of the company’s stock.

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.