Armistice Capital LLC Lowers Stock Holdings in Scilex Holding Company $SCLX

Key Points

• Armistice Capital LLC reduced its stake in Scilex Holding Company by 22.9%, now holding approximately 13.79 million shares worth $3.43 million.
• Several institutional investors, such as Northern Trust Corp and Jane Street Group LLC, have increased their positions in Scilex, contributing to 69.67% of the stock being owned by institutional investors.
• Scilex reported a quarterly EPS of ($7.42), missing the consensus estimate, with revenue of $9.90 million versus expectations of $26.25 million.

Armistice Capital LLC trimmed its stake in shares of Scilex Holding Company (NASDAQ:SCLX - Free Report) by 22.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,792,000 shares of the company's stock after selling 4,085,376 shares during the period. Armistice Capital LLC owned about 198.39% of Scilex worth $3,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCLX. Jane Street Group LLC lifted its position in shares of Scilex by 965.8% during the 4th quarter. Jane Street Group LLC now owns 321,480 shares of the company's stock valued at $137,000 after acquiring an additional 291,316 shares during the period. Janus Henderson Group PLC raised its position in shares of Scilex by 28.7% during the 4th quarter. Janus Henderson Group PLC now owns 687,547 shares of the company's stock worth $293,000 after purchasing an additional 153,245 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Scilex by 64.0% during the 4th quarter. Northern Trust Corp now owns 1,273,968 shares of the company's stock worth $543,000 after purchasing an additional 497,182 shares during the last quarter. 69.67% of the stock is currently owned by institutional investors and hedge funds.

Scilex Stock Up 1.2%

Shares of Scilex stock traded up $0.22 during trading on Wednesday, hitting $18.86. 152,711 shares of the company were exchanged, compared to its average volume of 244,008. Scilex Holding Company has a fifty-two week low of $3.60 and a fifty-two week high of $41.30. The stock has a market capitalization of $131.27 million, a price-to-earnings ratio of -0.65 and a beta of 1.34. The firm has a 50 day moving average price of $12.72 and a 200 day moving average price of $9.12.

Scilex (NASDAQ:SCLX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($7.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.55) by ($2.87). The company had revenue of $9.90 million during the quarter, compared to analysts' expectations of $26.25 million. Analysts predict that Scilex Holding Company will post -0.57 earnings per share for the current year.

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.