Scilex Holding (NASDAQ:SCLX) Director Acquires $19,000.00 in Stock

Scilex Holding (NASDAQ:SCLX) Director Yue Alexander Wu purchased 20,000 shares of the stock in a transaction dated Thursday, October 17th. The shares were bought at an average price of $0.95 per share, with a total value of $19,000.00. Following the completion of the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $23,750. This represents a 400.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Scilex Trading Up 2.5 %

NASDAQ SCLX opened at $0.97 on Monday. The firm has a market capitalization of $186.04 million, a PE ratio of -0.68 and a beta of 1.15. The business’s 50-day moving average price is $1.03 and its two-hundred day moving average price is $1.25. Scilex Holding has a 12 month low of $0.73 and a 12 month high of $2.63.

Scilex (NASDAQ:SCLX) last announced its earnings results on Tuesday, August 13th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.02. The company had revenue of $16.37 million during the quarter, compared to the consensus estimate of $13.17 million. As a group, analysts forecast that Scilex Holding will post -1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Alliance Global Partners began coverage on shares of Scilex in a research report on Wednesday, October 16th. They issued a “buy” rating and a $14.00 price target for the company.

Institutional Investors Weigh In On Scilex

Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in Scilex in the second quarter valued at $25,000. Bank of New York Mellon Corp bought a new position in shares of Scilex in the 2nd quarter worth about $31,000. Cannon Global Investment Management LLC acquired a new position in shares of Scilex in the 1st quarter valued at about $40,000. XTX Topco Ltd boosted its position in shares of Scilex by 321.4% during the 2nd quarter. XTX Topco Ltd now owns 105,431 shares of the company’s stock valued at $203,000 after purchasing an additional 80,409 shares in the last quarter. Finally, Donald L. Hagan LLC grew 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 period. 69.67% of the stock is currently owned by institutional investors and hedge funds.

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.