Scilex Holding Company (NASDAQ:SCLX) Sees Large Growth in Short Interest

Scilex Holding Company (NASDAQ:SCLX) saw 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. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily volume of 61,649 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily volume of 61,649 shares, the days-to-cover ratio is currently 3.8 days. Approximately 2.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Scilex

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its holdings in Scilex by 31.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 136,352 shares of the company’s stock valued at $34,000 after acquiring an additional 32,449 shares during the last quarter. Norges Bank acquired a new stake in shares of Scilex in the second quarter valued at approximately $80,000. BNP Paribas Financial Markets lifted its position in Scilex by 189.6% during the third quarter. BNP Paribas Financial Markets now owns 7,430 shares of the company’s stock worth $146,000 after buying an additional 4,864 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Scilex during the fourth quarter worth $150,000. Finally, Donald L. Hagan LLC purchased a new stake in Scilex in the 3rd quarter valued at $234,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Scilex Stock Performance

NASDAQ SCLX opened at $8.73 on Thursday. The business has a fifty day moving average price of $10.22 and a 200 day moving average price of $15.97. The company has a market cap of $74.12 million, a P/E ratio of -0.27 and a beta of 1.35. Scilex has a one year low of $3.60 and a one year high of $34.27.

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.