Scilex Holding (NASDAQ:SCLX) Director Yue Alexander Wu Acquires 20,000 Shares

Scilex Holding (NASDAQ:SCLX) Director Yue Alexander Wu bought 20,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were acquired at an average price of $0.95 per share, for a total transaction of $19,000.00. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $23,750. This represents a 400.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Scilex Stock Performance

Shares of Scilex stock traded up $0.00 on Friday, reaching $0.95. 4,740,299 shares of the stock were exchanged, compared to its average volume of 1,082,608. The firm’s 50 day moving average is $1.04 and its 200-day moving average is $1.25. Scilex Holding has a one year low of $0.73 and a one year high of $2.63. The firm has a market cap of $181.61 million, a PE ratio of -0.73 and a beta of 1.15.

Scilex (NASDAQ:SCLX) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.02. The company had revenue of $16.37 million during the quarter, compared to the consensus estimate of $13.17 million. On average, equities research analysts expect that Scilex Holding will post -1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Scilex

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCLX. Armistice Capital LLC bought a new position in Scilex in the 2nd quarter valued at approximately $23,064,000. XTX Topco Ltd lifted its stake in Scilex by 321.4% in the 2nd 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. Vanguard Group Inc. increased its position in Scilex by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,988,265 shares of the company’s stock valued at $6,341,000 after acquiring an additional 55,757 shares during the period. Donald L. Hagan LLC increased its position in Scilex by 59.5% in the 2nd quarter. Donald L. Hagan LLC now owns 113,292 shares of the company’s stock valued at $219,000 after acquiring an additional 42,245 shares during the period. Finally, Cannon Global Investment Management LLC acquired a new position in Scilex in the 1st quarter valued at approximately $40,000. Institutional investors own 69.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners assumed coverage on shares of Scilex in a research report on Wednesday. They set 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.