Scilex Holding (NASDAQ:SCLX) Director Jay Chun Purchases 57,500 Shares

Scilex Holding (NASDAQ:SCLX - Get Free Report) Director Jay Chun acquired 57,500 shares of the business's stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $0.90 per share, for a total transaction of $51,750.00. Following the transaction, the director now owns 102,500 shares of the company's stock, valued at approximately $92,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Scilex Stock Up 3.4 %

SCLX stock traded up $0.03 during midday trading on Friday, hitting $0.90. 1,068,190 shares of the company traded hands, compared to its average volume of 907,274. Scilex Holding has a twelve month low of $0.73 and a twelve month high of $8.37. The business has a 50 day simple moving average of $1.18 and a 200-day simple moving average of $1.43. The stock has a market capitalization of $163.07 million, a price-to-earnings ratio of -0.73 and a beta of 0.91.

Scilex (NASDAQ:SCLX - Get Free Report) last announced its quarterly earnings results on Monday, March 11th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The business had revenue of $13.46 million during the quarter, compared to the consensus estimate of $11.43 million. Equities research analysts forecast that Scilex Holding will post -0.43 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright cut their price objective on shares of Scilex from $12.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, May 3rd.

Hedge Funds Weigh In On Scilex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new position in Scilex during the third quarter valued at approximately $68,000. Hudson Bay Capital Management LP acquired a new position in Scilex during the third quarter valued at approximately $665,000. Donald L. Hagan LLC grew its holdings in Scilex by 49.1% during the fourth quarter. Donald L. Hagan LLC now owns 52,343 shares of the company's stock valued at $107,000 after purchasing an additional 17,245 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Scilex by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,988,265 shares of the company's stock worth $6,341,000 after acquiring an additional 55,757 shares during the last quarter. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of Scilex in the first quarter worth $40,000. Institutional investors and hedge funds own 69.67% of the company's stock.

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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