Jane Street Group LLC Trims Position in Scilex Holding (NASDAQ:SCLX)

Jane Street Group LLC decreased its position in shares of Scilex Holding (NASDAQ:SCLX) by 89.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,164 shares of the company’s stock after selling 247,271 shares during the quarter. Jane Street Group LLC’s holdings in Scilex were worth $28,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Armistice Capital LLC bought a new position in shares of Scilex in the second quarter worth about $23,064,000. XTX Topco Ltd lifted its holdings in Scilex by 321.4% in the 2nd quarter. XTX Topco Ltd now owns 105,431 shares of the company’s stock worth $203,000 after purchasing an additional 80,409 shares in the last quarter. State Street Corp boosted its stake in Scilex by 0.7% in the 3rd quarter. State Street Corp now owns 7,484,310 shares of the company’s stock worth $6,920,000 after purchasing an additional 54,404 shares during the period. Janus Henderson Group PLC boosted its stake in Scilex by 3.5% in 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 during the period. Finally, Donald L. Hagan LLC grew 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 valued at $121,000 after buying an additional 17,500 shares in the last quarter. Institutional investors own 69.67% of the company’s stock.

Insider Buying and Selling at Scilex

In other Scilex news, insider Jaisim Shah bought 32,000 shares of Scilex stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average cost of $0.99 per share, for a total transaction of $31,680.00. Following the acquisition, the insider now directly owns 109,333 shares in the company, valued at approximately $108,239.67. This represents a 41.38 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired 70,888 shares of company stock worth $53,835 over the last 90 days. 8.73% of the stock is owned by insiders.

Scilex Stock Performance

NASDAQ SCLX opened at $0.47 on Friday. The stock has a 50 day moving average price of $0.56 and a 200-day moving average price of $1.00. Scilex Holding has a one year low of $0.38 and a one year high of $2.63. The company has a market capitalization of $89.99 million, a P/E ratio of -0.33 and a beta of 1.06.

Analysts Set New Price Targets

Several equities analysts have recently commented on SCLX shares. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Scilex in a report on Monday, October 21st. Alliance Global Partners assumed coverage on shares of Scilex in a report on Wednesday, October 16th. They set a “buy” rating and a $14.00 price objective for the company.

About Scilex

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.