Scilex Holding (NASDAQ:SCLX) Director Yue Alexander Wu Acquires 20,000 Shares

Scilex Holding (NASDAQ:SCLX - Get Free Report) Director Yue Alexander Wu acquired 20,000 shares of the stock in a transaction dated Thursday, October 17th. The stock was acquired at an average price of $0.95 per share, with a total value of $19,000.00. Following the completion of the acquisition, the director now owns 25,000 shares in the company, valued at approximately $23,750. The trade was a 400.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Scilex Stock Performance

NASDAQ:SCLX traded up $0.02 during midday trading on Friday, reaching $0.97. 7,529,584 shares of the stock traded hands, compared to its average volume of 1,096,329. The company has a fifty day moving average of $1.03 and a 200 day moving average of $1.25. Scilex Holding has a 12 month low of $0.73 and a 12 month high of $2.63. The stock has a market capitalization of $186.04 million, a P/E ratio of -0.68 and a beta of 1.15.

Scilex (NASDAQ:SCLX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. On average, analysts predict that Scilex Holding will post -1.19 EPS for the current fiscal year.

Institutional Trading of Scilex

A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company purchased a new stake in shares of Scilex in the 2nd quarter worth about $25,000. Armistice Capital LLC purchased a new stake in shares of Scilex in the 2nd quarter worth about $23,064,000. XTX Topco Ltd grew its position in Scilex by 321.4% during the 2nd quarter. XTX Topco Ltd now owns 105,431 shares of the company's stock valued at $203,000 after purchasing an additional 80,409 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Scilex during the 2nd quarter valued at about $31,000. Finally, Donald L. Hagan LLC grew its position in Scilex by 59.5% during the 2nd quarter. Donald L. Hagan LLC now owns 113,292 shares of the company's stock valued at $219,000 after purchasing an additional 42,245 shares during the last quarter. 69.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners initiated coverage on shares of Scilex in a report on Wednesday. They issued a "buy" rating and a $14.00 price objective for the company.

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.