Tower Research Capital LLC TRC Sells 98,480 Shares of Scilex Holding (NASDAQ:SCLX)

Tower Research Capital LLC TRC decreased its holdings in shares of Scilex Holding (NASDAQ:SCLX) by 82.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,595 shares of the company’s stock after selling 98,480 shares during the period. Tower Research Capital LLC TRC’s holdings in Scilex were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCLX. Donald L. Hagan LLC raised its stake 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 acquiring an additional 17,245 shares during the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of Scilex in the fourth quarter valued at approximately $58,000. Bank of New York Mellon Corp bought a new position in shares of Scilex in the third quarter valued at approximately $68,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Scilex in the third quarter valued at approximately $665,000. Institutional investors own 69.67% of the company’s stock.

Scilex Price Performance

Shares of NASDAQ:SCLX traded down $0.01 during trading on Thursday, reaching $0.85. The stock had a trading volume of 403,749 shares, compared to its average volume of 941,120. Scilex Holding has a 52 week low of $0.80 and a 52 week high of $8.37. The business’s 50-day moving average price is $1.38 and its 200 day moving average price is $1.50. The stock has a market capitalization of $141.00 million, a PE ratio of -0.66 and a beta of 0.91.

Scilex (NASDAQ:SCLX) last posted its 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 for the quarter, compared to the consensus estimate of $11.43 million. Analysts forecast that Scilex Holding will post -0.51 EPS for the current year.

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.