Scilex Holding (NASDAQ:SCLX) Short Interest Update

Scilex Holding (NASDAQ:SCLX) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 6,100,000 shares, an increase of 40.6% from the January 31st total of 4,340,000 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average trading volume of 1,430,000 shares, the days-to-cover ratio is currently 4.3 days.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital reissued a “buy” rating and issued a $22.00 target price on shares of Scilex in a research report on Friday, February 28th.

Institutional Trading of Scilex

Several hedge funds have recently added to or reduced their stakes in SCLX. Donald L. Hagan LLC raised its position in shares of Scilex by 32.5% in the 4th quarter. Donald L. Hagan LLC now owns 173,292 shares of the company’s stock worth $74,000 after acquiring an additional 42,500 shares in the last quarter. Jane Street Group LLC grew its stake in Scilex by 965.8% in the fourth quarter. Jane Street Group LLC now owns 321,480 shares of the company’s stock worth $137,000 after purchasing an additional 291,316 shares during the period. Norges Bank bought a new position in Scilex in the fourth quarter worth $204,000. Janus Henderson Group PLC lifted its position in Scilex by 28.7% during the fourth quarter. Janus Henderson Group PLC now owns 687,547 shares of the company’s stock valued at $293,000 after buying an additional 153,245 shares during the period. Finally, RA Capital Management L.P. boosted its holdings in shares of Scilex by 296.7% during the 4th quarter. RA Capital Management L.P. now owns 1,036,218 shares of the company’s stock valued at $442,000 after buying an additional 775,039 shares in the last quarter. 69.67% of the stock is owned by institutional investors.

Scilex Stock Up 1.1 %

Scilex stock traded up $0.00 during mid-day trading on Wednesday, reaching $0.30. 878,453 shares of the company’s stock were exchanged, compared to its average volume of 1,400,603. Scilex has a one year low of $0.21 and a one year high of $2.30. The business’s fifty day simple moving average is $0.40 and its 200 day simple moving average is $0.69. The firm has a market capitalization of $73.97 million, a PE ratio of -0.37 and a beta of 1.06.

Scilex (NASDAQ:SCLX) last released its earnings results on Friday, January 17th. The company reported ($0.18) earnings per share (EPS) for the quarter. On average, sell-side analysts forecast that Scilex will post -0.57 earnings per share for the current year.

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.