Scilex Holding (NASDAQ:SCLX) Insider Purchases $69,771.24 in Stock

Scilex Holding (NASDAQ:SCLXGet Free Report) insider Jaisim Shah purchased 83,061 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average cost of $0.84 per share, for a total transaction of $69,771.24. Following the acquisition, the insider now owns 98,943 shares in the company, valued at $83,112.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Scilex Stock Performance

Shares of SCLX stock traded up $0.03 during mid-day trading on Friday, reaching $0.90. 1,120,274 shares of the company’s stock traded hands, compared to its average volume of 740,618. Scilex Holding has a 12 month low of $0.73 and a 12 month high of $8.37. The company’s 50-day moving average price is $1.17 and its 200-day moving average price is $1.43.

Scilex (NASDAQ:SCLXGet Free Report) last released its earnings results on Monday, March 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The firm had revenue of $13.46 million for the quarter, compared to analysts’ expectations of $11.43 million. On average, equities analysts expect that Scilex Holding will post -0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their price target on shares of Scilex from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 3rd.

Check Out Our Latest Report on Scilex

Institutional Trading of Scilex

Several institutional investors have recently bought and sold shares of the company. Collective Family Office LLC grew its holdings in shares of Scilex by 68.4% during the first quarter. Collective Family Office LLC now owns 21,950 shares of the company’s stock valued at $35,000 after buying an additional 8,918 shares during the last quarter. Cannon Global Investment Management LLC purchased a new stake in shares of Scilex during the 1st quarter valued at about $40,000. Focus Financial Network Inc. ADV bought a new stake in shares of Scilex in the fourth quarter worth approximately $58,000. Bank of New York Mellon Corp purchased a new stake in Scilex in the third quarter worth approximately $68,000. Finally, Donald L. Hagan LLC grew its position in Scilex by 49.1% in the 4th quarter. Donald L. Hagan LLC now owns 52,343 shares of the company’s stock worth $107,000 after purchasing an additional 17,245 shares during the period. 69.67% of the stock is owned by hedge funds and other institutional investors.

About Scilex

(Get Free Report)

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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