Scilex Holding (NASDAQ:SCLX) Insider Acquires $13,800.00 in Stock

Scilex Holding (NASDAQ:SCLX) insider Jaisim Shah purchased 30,000 shares of Scilex stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of $0.46 per share, with a total value of $13,800.00. Following the completion of the transaction, the insider now directly owns 139,333 shares in the company, valued at approximately $64,093.18. This represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, October 29th, Jaisim Shah acquired 32,000 shares of Scilex stock. The shares were acquired at an average cost of $0.99 per share, with a total value of $31,680.00.
• On Wednesday, October 16th, Jaisim Shah acquired 30,000 shares of Scilex stock. The shares were acquired at an average cost of $0.99 per share, with a total value of $29,700.00.

Scilex Price Performance

NASDAQ:SCLX opened at $0.46 on Thursday. Scilex Holding has a 1-year low of $0.44 and a 1-year high of $2.63. The business has a 50 day moving average of $0.75 and a 200 day moving average of $1.15. The company has a market capitalization of $88.11 million, a price-to-earnings ratio of -0.32 and a beta of 0.96.

Institutional Investors Weigh In On Scilex

A number of institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company purchased a new position in Scilex in the 2nd quarter worth $25,000. Bank of New York Mellon Corp bought a new position in Scilex during the 2nd quarter worth approximately $31,000. Donald L. Hagan LLC increased its stake in Scilex by 15.4% in the 3rd quarter. Donald L. Hagan LLC now owns 130,792 shares of the company’s stock worth $121,000 after purchasing an additional 17,500 shares during the period. XTX Topco Ltd lifted its position in Scilex by 321.4% in the second 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 during the last quarter. Finally, Janus Henderson Group PLC boosted its stake 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 valued at $494,000 after purchasing an additional 17,848 shares during the period. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SCLX shares. HC Wainwright reiterated 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 began coverage on Scilex in a research note on Wednesday, October 16th. They issued a “buy” rating and a $14.00 target price on the stock.

Scilex Company 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.