State Street Corp Has $6.92 Million Position in Scilex Holding (NASDAQ:SCLX)

State Street Corp grew its position in shares of Scilex Holding (NASDAQ:SCLX) by 0.7% during the third quarter, HoldingsChannel.com reports. The firm owned 7,484,310 shares of the company’s stock after purchasing an additional 54,404 shares during the period. State Street Corp’s holdings in Scilex were worth $6,920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Scilex by 3.5% during the third quarter. Janus Henderson Group PLC now owns 534,302 shares of the company’s stock worth $494,000 after purchasing an additional 17,848 shares during the period. Donald L. Hagan LLC increased its stake in shares of Scilex by 15.4% in the 3rd quarter. Donald L. Hagan LLC now owns 130,792 shares of the company’s stock valued at $121,000 after acquiring an additional 17,500 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Scilex during the 2nd quarter valued at $25,000. Armistice Capital LLC bought a new position in Scilex during the second quarter worth $23,064,000. Finally, XTX Topco Ltd increased its position in Scilex by 321.4% in the 2nd quarter. XTX Topco Ltd now owns 105,431 shares of the company’s stock valued at $203,000 after buying an additional 80,409 shares in the last quarter. 69.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Scilex

In related news, insider Jaisim Shah purchased 32,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was bought at an average price of $0.99 per share, for a total transaction of $31,680.00. Following the purchase, the insider now directly owns 109,333 shares in the company, valued at approximately $108,239.67. This trade represents a 41.38 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 127,588 shares of company stock worth $109,034 in the last quarter. 8.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Scilex Stock Down 4.9 %

Shares of NASDAQ SCLX opened at $0.39 on Friday. The stock’s 50 day moving average price is $0.69 and its 200-day moving average price is $1.12. The company has a market capitalization of $74.80 million, a PE ratio of -0.27 and a beta of 0.96. Scilex Holding has a twelve month low of $0.38 and a twelve month high of $2.63.

Scilex 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.