Scilex (NASDAQ:SCLX) Stock Price Down 0.9%

Scilex Holding (NASDAQ:SCLX) shares were down 0.9% during trading on Thursday . The company traded as low as $0.83 and last traded at $0.84. Approximately 77,669 shares changed hands during trading, a decline of 92% from the average daily volume of 914,945 shares. The stock had previously closed at $0.85.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased their price target on shares of Scilex from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 3rd.

Scilex Trading Down 2.0 %

The company’s 50 day moving average is $1.27 and its 200-day moving average is $1.47. The company has a market capitalization of $137.97 million, a P/E ratio of -0.64 and a beta of 0.91.

Scilex (NASDAQ:SCLX) last announced its quarterly earnings results on Monday, March 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The firm had revenue of $13.46 million during the quarter, compared to analysts’ expectations of $11.43 million. Analysts predict that Scilex Holding will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SCLX. Bank of New York Mellon Corp purchased a new position in shares of Scilex during the 3rd quarter valued at approximately $68,000. Hudson Bay Capital Management LP acquired a new position in Scilex during the third quarter worth about $665,000. Donald L. Hagan LLC grew its stake in Scilex by 49.1% during the 4th quarter. Donald L. Hagan LLC now owns 52,343 shares of the company’s stock valued at $107,000 after acquiring an additional 17,245 shares in the last quarter. Cannon Global Investment Management LLC purchased a new position in Scilex in the 1st quarter worth approximately $40,000. Finally, Collective Family Office LLC boosted its holdings in shares of Scilex by 68.4% during the 1st quarter. Collective Family Office LLC now owns 21,950 shares of the company’s stock worth $35,000 after purchasing an additional 8,918 shares during the last quarter. Institutional investors own 69.67% of the company’s 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.