Scilex Holding (NASDAQ:SCLX) Short Interest Up 40.6% in February

Scilex Holding (NASDAQ:SCLX) saw a large growth in short interest during 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. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 3.4% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SCLX. State Street Corp raised its holdings in Scilex by 0.7% in the third quarter. State Street Corp now owns 7,484,310 shares of the company’s stock worth $6,920,000 after purchasing an additional 54,404 shares during the period. Northern Trust Corp increased its position in shares of Scilex by 64.0% in the 4th quarter. Northern Trust Corp now owns 1,273,968 shares of the company’s stock valued at $543,000 after buying an additional 497,182 shares in the last quarter. RA Capital Management L.P. raised its stake in Scilex by 296.7% during the 4th quarter. RA Capital Management L.P. now owns 1,036,218 shares of the company’s stock worth $442,000 after buying an additional 775,039 shares during the period. Janus Henderson Group PLC lifted its holdings in Scilex by 28.7% during the fourth quarter. Janus Henderson Group PLC now owns 687,547 shares of the company’s stock worth $293,000 after acquiring an additional 153,245 shares in the last quarter. Finally, Norges Bank acquired a new position in Scilex in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 69.67% of the company’s stock.

Scilex Stock Up 23.5 %

Shares of Scilex stock traded up $0.06 during trading on Monday, reaching $0.29. 5,788,992 shares of the company were exchanged, compared to its average volume of 1,377,434. The business has a 50-day moving average price of $0.40 and a 200-day moving average price of $0.70. The firm has a market capitalization of $70.90 million, a price-to-earnings ratio of -0.35 and a beta of 1.06. Scilex has a twelve month low of $0.21 and a twelve month high of $2.30.

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

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.