Scilex (NASDAQ:SCLX) Shares Gap Up to $6.90

Scilex Holding (NASDAQ:SCLX – Get Rating) shares gapped up prior to trading on Friday . The stock had previously closed at $6.90, but opened at $7.21. Scilex shares last traded at $7.38, with a volume of 116,490 shares traded.

Scilex Stock Performance

The firm’s 50-day moving average is $8.59.

Institutional Investors Weigh In On Scilex

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Scilex in the 1st quarter worth approximately $30,000. US Bancorp DE purchased a new position in shares of Scilex in the first quarter worth $37,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Scilex in the first quarter worth $39,000. UBS Group AG increased its stake in shares of Scilex by 90.3% in the first quarter. UBS Group AG now owns 13,843 shares of the company’s stock worth $114,000 after buying an additional 6,568 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Scilex in the first quarter worth $70,000. 72.74% of the stock is currently owned by institutional investors.

About Scilex

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Scilex Holding Company, a biopharmaceutical company, focuses on developing and commercializing non-opioid management products for the treatment of acute and chronic pain. Its commercial product is ZTlido 1.8%, a prescription lidocaine topical product for the relief of neuropathic pain related with post-herpetic neuralgia, which is a form of post-shingles nerve pain.