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

Scilex Holding (NASDAQ:SCLX - Get Free Report) insider Jaisim Shah bought 30,000 shares of Scilex stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $0.46 per share, with a total value of $13,800.00. Following the completion of the purchase, the insider now owns 139,333 shares in the company, valued at approximately $64,093.18. The trade was a 27.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

Scilex Stock Down 8.9 %

NASDAQ SCLX traded down $0.05 on Wednesday, hitting $0.46. The stock had a trading volume of 1,426,971 shares, compared to its average volume of 1,309,147. The company's 50-day moving average is $0.75 and its two-hundred day moving average is $1.15. The stock has a market cap of $88.11 million, a price-to-earnings ratio of -0.32 and a beta of 0.96. Scilex Holding has a one year low of $0.44 and a one year high of $2.63.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Alliance Global Partners initiated coverage on Scilex in a research report on Wednesday, October 16th. They set a "buy" rating and a $14.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Scilex in a research report on Monday, October 21st.

Hedge Funds Weigh In On Scilex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new stake in Scilex during the 2nd quarter valued at $25,000. Bank of New York Mellon Corp bought a new stake in shares of Scilex during the second quarter valued at about $31,000. Donald L. Hagan LLC raised its stake in shares of Scilex by 15.4% during the third quarter. Donald L. Hagan LLC now owns 130,792 shares of the company's stock valued at $121,000 after purchasing an additional 17,500 shares in the last quarter. XTX Topco Ltd lifted its holdings in Scilex by 321.4% in the second quarter. XTX Topco Ltd now owns 105,431 shares of the company's stock worth $203,000 after purchasing an additional 80,409 shares during the period. Finally, Janus Henderson Group PLC grew its position in Scilex by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 534,302 shares of the company's stock valued at $494,000 after buying an additional 17,848 shares in the last quarter. 69.67% of the stock is owned by institutional investors.

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.

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