Scilex (NASDAQ:SCLX) Shares Up 0.2%

Shares of Scilex Holding (NASDAQ:SCLX - Get Free Report) traded up 0.2% during mid-day trading on Tuesday . The stock traded as high as $0.83 and last traded at $0.81. 207,353 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 907,336 shares. The stock had previously closed at $0.80.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright cut their price target 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.

Scilex Stock Performance

The stock has a market capitalization of $132.95 million, a P/E ratio of -0.62 and a beta of 0.91. The business has a fifty day simple moving average of $1.20 and a 200-day simple moving average of $1.44.

Scilex (NASDAQ:SCLX - Get Free Report) last issued its earnings results on Monday, March 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The company had revenue of $13.46 million for the quarter, compared to analyst estimates of $11.43 million. On average, sell-side analysts anticipate that Scilex Holding will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Scilex

Large investors have recently modified their holdings of the company. Hudson Bay Capital Management LP purchased a new position in shares of Scilex during the third quarter valued at approximately $665,000. Vanguard Group Inc. grew its stake in shares of Scilex by 1.4% in the 1st 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 in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Scilex in the third quarter valued at about $68,000. Focus Financial Network Inc. ADV bought a new position in shares of Scilex during the fourth quarter valued at about $58,000. Finally, Cannon Global Investment Management LLC purchased a new position in Scilex during the first quarter worth about $40,000. 69.67% of the stock is currently owned by institutional investors.

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.