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

Scilex Holding (NASDAQ:SCLX) insider Jaisim Shah purchased 32,000 shares of Scilex stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average cost of $0.99 per share, with a total value of $31,680.00. Following the transaction, the insider now owns 109,333 shares in the company, valued at $108,239.67. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Scilex Trading Up 1.3 %

SCLX stock opened at $1.00 on Wednesday. Scilex Holding has a 1-year low of $0.73 and a 1-year high of $2.63. The stock has a market cap of $190.83 million, a P/E ratio of -0.70 and a beta of 1.15. The stock’s fifty day simple moving average is $0.99 and its two-hundred day simple moving average is $1.22.

Scilex (NASDAQ:SCLX) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share 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 the consensus estimate of $13.17 million. As a group, analysts forecast that Scilex Holding will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SCLX has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Scilex in a research 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 target price for the company.

Institutional Investors Weigh In On Scilex

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in Scilex during the second quarter valued at $25,000. Bank of New York Mellon Corp bought a new position in shares of Scilex during the 2nd quarter worth $31,000. XTX Topco Ltd increased its holdings in 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 acquiring an additional 80,409 shares during the last quarter. Donald L. Hagan LLC raised its stake in Scilex by 59.5% in the 2nd quarter. Donald L. Hagan LLC now owns 113,292 shares of the company’s stock valued at $219,000 after acquiring an additional 42,245 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 55,757 shares during the last quarter. Hedge funds and other institutional investors 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.