Insider Buying: Scilex Holding (NASDAQ:SCLX) Insider Buys $13,800.00 in Stock

Scilex Holding (NASDAQ:SCLX) insider Jaisim Shah acquired 30,000 shares of Scilex stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $0.46 per share, with a total value of $13,800.00. Following the transaction, the insider now owns 139,333 shares of the company’s stock, valued at approximately $64,093.18. The trade was a 27.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Jaisim Shah also recently made the following trade(s):

• On Tuesday, October 29th, Jaisim Shah bought 32,000 shares of Scilex stock. The stock was purchased at an average cost of $0.99 per share, for a total transaction of $31,680.00.
• On Wednesday, October 16th, Jaisim Shah purchased 30,000 shares of Scilex stock. The stock was purchased at an average cost of $0.99 per share, with a total value of $29,700.00.

Scilex Stock Performance

Shares of SCLX stock opened at $0.45 on Friday. The company has a market capitalization of $85.83 million, a price-to-earnings ratio of -0.31 and a beta of 0.96. The stock’s 50 day simple moving average is $0.74 and its 200 day simple moving average is $1.15. Scilex Holding has a twelve month low of $0.43 and a twelve month high of $2.63.

Analysts Set New Price Targets

SCLX has been the topic of several recent research reports. Alliance Global Partners initiated coverage on shares of Scilex in a research report on Wednesday, October 16th. They set a “buy” rating and a $14.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Scilex in a research note on Monday, October 21st.

Institutional Trading of Scilex

Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new position in Scilex in the 2nd quarter worth $25,000. Bank of New York Mellon Corp acquired a new stake in shares of Scilex in the second quarter valued at about $31,000. XTX Topco Ltd increased its stake in shares of Scilex by 321.4% in the second quarter. XTX Topco Ltd now owns 105,431 shares of the company’s stock worth $203,000 after purchasing an additional 80,409 shares during the period. Donald L. Hagan LLC lifted its position in shares of Scilex by 15.4% during the 3rd quarter. Donald L. Hagan LLC now owns 130,792 shares of the company’s stock worth $121,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Scilex by 3.5% during the 3rd quarter. Janus Henderson Group PLC now owns 534,302 shares of the company’s stock valued at $494,000 after purchasing an additional 17,848 shares during the period. 69.67% of the stock is currently owned by institutional investors and hedge funds.

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.