Short Interest in Scilex Holding (NASDAQ:SCLX) Expands By 40.6%

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

Analyst Ratings Changes

Separately, D. Boral Capital reiterated a “buy” rating and set a $22.00 price objective on shares of Scilex in a research note on Friday.

Scilex Stock Performance

Shares of NASDAQ SCLX traded up $0.06 during mid-day trading on Monday, hitting $0.29. 5,788,992 shares of the stock were exchanged, compared to its average volume of 1,377,434. Scilex has a twelve month low of $0.21 and a twelve month high of $2.30. The stock’s fifty day simple moving average is $0.40 and its two-hundred day simple moving average is $0.70. The company has a market cap of $70.90 million, a P/E ratio of -0.35 and a beta of 1.06.

Scilex (NASDAQ:SCLX) last released its quarterly earnings results on Friday, January 17th. The company reported ($0.18) earnings per share for the quarter. As a group, equities research analysts predict that Scilex will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State Street Corp grew its holdings in Scilex by 0.7% during the 3rd quarter. State Street Corp now owns 7,484,310 shares of the company’s stock worth $6,920,000 after acquiring an additional 54,404 shares during the last quarter. Donald L. Hagan LLC grew its stake in shares of Scilex by 32.5% during the fourth quarter. Donald L. Hagan LLC now owns 173,292 shares of the company’s stock valued at $74,000 after purchasing an additional 42,500 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Scilex by 965.8% during the fourth quarter. Jane Street Group LLC now owns 321,480 shares of the company’s stock valued at $137,000 after purchasing an additional 291,316 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Scilex by 64.0% in the fourth quarter. Northern Trust Corp now owns 1,273,968 shares of the company’s stock valued at $543,000 after purchasing an additional 497,182 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Scilex by 28.7% in the 4th quarter. Janus Henderson Group PLC now owns 687,547 shares of the company’s stock worth $293,000 after purchasing an additional 153,245 shares during the last quarter. 69.67% of the stock is owned by institutional investors.

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.