Scilex Holding (NASDAQ:SCLX) Shares Acquired by Collective Family Office LLC

Collective Family Office LLC boosted its position in Scilex Holding (NASDAQ:SCLX) by 68.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,950 shares of the company’s stock after acquiring an additional 8,918 shares during the quarter. Collective Family Office LLC’s holdings in Scilex were worth $35,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Focus Financial Network Inc. ADV purchased a new stake in shares of Scilex in the 4th quarter valued at about $58,000. Donald L. Hagan LLC raised its holdings in shares of Scilex by 49.1% in the fourth quarter. Donald L. Hagan LLC now owns 52,343 shares of the company’s stock valued at $107,000 after buying an additional 17,245 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Scilex during the third quarter worth about $665,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Scilex Trading Up 7.1 %

Shares of SCLX stock opened at $1.96 on Friday. Scilex Holding has a 12-month low of $0.73 and a 12-month high of $7.30. The company has a market cap of $355.13 million, a price-to-earnings ratio of -1.50 and a beta of 1.01. The stock has a 50 day simple moving average of $1.11 and a 200-day simple moving average of $1.42.

Scilex (NASDAQ:SCLX) last released its earnings results on Monday, May 13th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). The business had revenue of $10.88 million during the quarter, compared to the consensus estimate of $15.67 million. On average, equities analysts forecast that Scilex Holding will post -0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

SCLX has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Scilex in a research note on Monday. Rodman & Renshaw initiated coverage on shares of Scilex in a research report on Thursday, June 13th. They set a “buy” rating and a $13.00 price objective for the company.

Insider Buying and Selling

In related news, insider Jaisim Shah bought 83,061 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was bought at an average cost of $0.84 per share, with a total value of $69,771.24. Following the completion of the acquisition, the insider now owns 98,943 shares in the company, valued at approximately $83,112.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jaisim Shah bought 83,061 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $0.84 per share, for a total transaction of $69,771.24. Following the completion of the transaction, the insider now owns 98,943 shares in the company, valued at $83,112.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay Chun bought 57,500 shares of the stock in a transaction on Friday, May 17th. The stock was purchased at an average cost of $0.90 per share, for a total transaction of $51,750.00. Following the acquisition, the director now directly owns 102,500 shares of the company’s stock, valued at approximately $92,250. The disclosure for this purchase can be found here. 8.73% of the stock is owned by insiders.

Scilex 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.