Bank of New York Mellon Corp bought a new position in shares of Scilex Holding (NASDAQ:SCLX – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 15,815 shares of the company’s stock, valued at approximately $31,000.
Other institutional investors also recently made changes to their positions in the company. Collective Family Office LLC boosted its position in shares of Scilex by 68.4% in the 1st quarter. Collective Family Office LLC now owns 21,950 shares of the company’s stock worth $35,000 after buying an additional 8,918 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Scilex by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,988,265 shares of the company’s stock worth $6,341,000 after buying an additional 55,757 shares in the last quarter. Focus Financial Network Inc. ADV purchased a new stake in shares of Scilex in the 4th quarter worth about $58,000. Donald L. Hagan LLC boosted its position in shares of Scilex by 59.5% in the 2nd quarter. Donald L. Hagan LLC now owns 113,292 shares of the company’s stock worth $219,000 after buying an additional 42,245 shares in the last quarter. Finally, Cannon Global Investment Management LLC purchased a new stake in shares of Scilex in the 1st quarter worth about $40,000. 69.67% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SCLX has been the subject of several analyst reports. Rodman & Renshaw initiated coverage on shares of Scilex in a research note on Thursday, June 13th. They issued a “buy” rating and a $13.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Scilex in a research note on Monday, June 17th.
Scilex Price Performance
NASDAQ SCLX opened at $0.94 on Friday. Scilex Holding has a 12 month low of $0.73 and a 12 month high of $2.63. The company has a 50-day moving average of $1.23 and a 200-day moving average of $1.31. The company has a market cap of $180.40 million, a P/E ratio of -0.72 and a beta of 1.17.
Scilex (NASDAQ:SCLX – Get Free Report) last posted its earnings results 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. As a group, equities research analysts anticipate that Scilex Holding will post -0.79 EPS for the current year.
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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