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

Scilex Holding (NASDAQ:SCLX) Director Yue Alexander Wu purchased 20,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was acquired at an average price of $0.95 per share, with a total value of $19,000.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $23,750. This trade represents a 400.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Scilex Stock Performance

Shares of Scilex stock traded up $0.00 during trading hours on Friday, reaching $0.95. The company’s stock had a trading volume of 4,740,299 shares, compared to its average volume of 1,082,608. Scilex Holding has a one year low of $0.73 and a one year high of $2.63. The company has a market capitalization of $181.61 million, a P/E ratio of -0.73 and a beta of 1.15. The stock’s fifty day simple moving average is $1.04 and its two-hundred day simple moving average is $1.25.

Scilex (NASDAQ:SCLX) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.02. The business had revenue of $16.37 million during the quarter, compared to the consensus estimate of $13.17 million. As a group, research analysts forecast that Scilex Holding will post -1.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SCLX. Armistice Capital LLC bought a new position in shares of Scilex during the second quarter valued at about $23,064,000. XTX Topco Ltd lifted its position in shares of Scilex by 321.4% during 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. Donald L. Hagan LLC lifted its position in shares of Scilex by 59.5% during the second quarter. Donald L. Hagan LLC now owns 113,292 shares of the company’s stock valued at $219,000 after purchasing an additional 42,245 shares in the last quarter. Finally, Cannon Global Investment Management LLC bought a new position in shares of Scilex during the first quarter valued at about $40,000. 69.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners initiated coverage on shares of Scilex in a research report on Wednesday. They set a “buy” rating and a $14.00 price objective for the company.

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.