Short Interest in Scilex Holding Company (NASDAQ:SCLX) Rises By 25.9%

Scilex Holding Company (NASDAQ:SCLX) was the recipient of a significant growth in short interest in February. As of February 13th, there was short interest totaling 232,650 shares, a growth of 25.9% from the January 29th total of 184,731 shares. Based on an average daily trading volume, of 61,649 shares, the short-interest ratio is presently 3.8 days. Approximately 2.9% of the shares of the company are short sold. Approximately 2.9% of the shares of the company are short sold. Based on an average daily trading volume, of 61,649 shares, the short-interest ratio is presently 3.8 days.

Scilex Stock Performance

Shares of NASDAQ:SCLX traded down $0.18 on Wednesday, hitting $8.79. The stock had a trading volume of 1,560 shares, compared to its average volume of 63,048. The company has a market capitalization of $74.63 million, a price-to-earnings ratio of -0.28 and a beta of 1.35. The firm’s 50 day moving average price is $10.33 and its 200-day moving average price is $16.02. Scilex has a twelve month low of $3.60 and a twelve month high of $34.27.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SCLX. Donald L. Hagan LLC acquired a new stake in Scilex during the 3rd quarter valued at $234,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Scilex in the third quarter valued at $354,000. XTX Topco Ltd bought a new position in shares of Scilex in the fourth quarter valued at about $249,000. Armistice Capital LLC lifted its position in Scilex by 622.2% during the 4th quarter. Armistice Capital LLC now owns 476,674 shares of the company’s stock worth $5,815,000 after buying an additional 410,674 shares in the last quarter. Finally, 683 Capital Management LLC acquired a new stake in Scilex in the 4th quarter valued at about $333,000. Institutional investors own 69.67% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Scilex in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $630.00.

Scilex Company Profile

Scilex Holdings, Inc (NASDAQ: SCLX) is a specialty pharmaceutical company focused on non-opioid treatments for chronic pain. The firm’s principal commercial product, ZTlido®, is a lidocaine topical system approved by the U.S. Food and Drug Administration for the management of post-herpetic neuralgia and certain peripheral neuropathic pain conditions. By leveraging a proprietary drug delivery platform, Scilex aims to improve patient comfort and safety compared to traditional oral analgesics.

In addition to marketing ZTlido® in the United States, Scilex is advancing other pain management assets through clinical development and regulatory pathways.