Jaisim Shah Acquires 32,000 Shares of Scilex Holding (NASDAQ:SCLX) Stock

Scilex Holding (NASDAQ:SCLX - Get Free Report) insider Jaisim Shah bought 32,000 shares of the business's stock in a transaction on Tuesday, October 29th. The shares were acquired at an average price of $0.99 per share, with a total value of $31,680.00. Following the transaction, the insider now directly owns 109,333 shares of the company's stock, valued at approximately $108,239.67. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

Scilex Stock Performance

NASDAQ SCLX traded up $0.01 during mid-day trading on Tuesday, reaching $1.00. 1,822,064 shares of the stock were exchanged, compared to its average volume of 1,139,425. Scilex Holding has a 1 year low of $0.73 and a 1 year high of $2.63. The business's 50 day moving average is $0.99 and its 200-day moving average is $1.22. The company has a market capitalization of $190.83 million, a P/E ratio of -0.70 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, topping analysts' consensus estimates of ($0.20) by $0.02. The business had revenue of $16.37 million for the quarter, compared to analyst estimates of $13.17 million. Equities analysts predict that Scilex Holding will post -0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SCLX shares. HC Wainwright restated a "buy" rating and issued a $7.00 price objective on shares of Scilex in a report on Monday, October 21st. Alliance Global Partners assumed coverage on shares of Scilex in a research report on Wednesday, October 16th. They set a "buy" rating and a $14.00 price target for the company.

Institutional Investors Weigh In On Scilex

A number of institutional investors and hedge funds have recently modified their holdings of SCLX. The Manufacturers Life Insurance Company acquired a new position in shares of Scilex during the 2nd quarter valued at about $25,000. Bank of New York Mellon Corp acquired a new stake in Scilex during the 2nd quarter valued at approximately $31,000. XTX Topco Ltd increased 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 purchasing an additional 80,409 shares during the last quarter. Donald L. Hagan LLC lifted its stake in Scilex by 59.5% during the second quarter. Donald L. Hagan LLC now owns 113,292 shares of the company's stock worth $219,000 after purchasing an additional 42,245 shares during the last quarter. Finally, 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 period. Institutional investors and hedge funds own 69.67% of the company's stock.

About Scilex

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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