Scilex Holding (NASDAQ:SCLX) Insider Jaisim Shah Purchases 30,000 Shares

Scilex Holding (NASDAQ:SCLX) insider Jaisim Shah bought 30,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $0.46 per share, for a total transaction of $13,800.00. Following the purchase, the insider now owns 139,333 shares in the company, valued at $64,093.18. This trade represents a 27.44 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

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

Scilex Stock Performance

NASDAQ:SCLX opened at $0.44 on Friday. The company has a market cap of $84.45 million, a price-to-earnings ratio of -0.31 and a beta of 0.96. Scilex Holding has a 52-week low of $0.44 and a 52-week high of $2.63. The stock’s fifty day moving average price is $0.74 and its two-hundred day moving average price is $1.15.

Institutional Investors Weigh In On Scilex

A number of institutional investors have recently made changes to their positions in SCLX. State Street Corp boosted its stake in Scilex by 0.7% during the 3rd quarter. State Street Corp now owns 7,484,310 shares of the company’s stock worth $6,920,000 after acquiring an additional 54,404 shares during the last quarter. Janus Henderson Group PLC increased 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 worth $494,000 after purchasing an additional 17,848 shares in the last quarter. Donald L. Hagan LLC increased its holdings in 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 in the last quarter. The Manufacturers Life Insurance Company bought a new position in Scilex in the second quarter valued at $25,000. Finally, Armistice Capital LLC bought a new stake in Scilex during the second quarter worth about $23,064,000. 69.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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