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

Scilex Holding (NASDAQ:SCLX) was the target 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. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is presently 4.3 days. Currently, 3.4% of the company’s shares are sold short.

Institutional Investors Weigh In On Scilex

A number of large investors have recently bought and sold shares of the stock. Donald L. Hagan LLC boosted its position in shares of Scilex by 32.5% during the 4th quarter. Donald L. Hagan LLC now owns 173,292 shares of the company’s stock worth $74,000 after purchasing 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 valued at $137,000 after acquiring an additional 291,316 shares during the period. Norges Bank acquired a new position in shares of Scilex during the fourth quarter worth approximately $204,000. Janus Henderson Group PLC lifted its holdings in shares of 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 in the last quarter. Finally, RA Capital Management L.P. grew its position in Scilex by 296.7% in the 4th quarter. RA Capital Management L.P. now owns 1,036,218 shares of the company’s stock valued at $442,000 after purchasing an additional 775,039 shares during the period. 69.67% of the stock is currently owned by institutional investors and hedge funds.

Scilex Stock Down 2.5 %

Scilex stock traded down $0.01 during mid-day trading on Tuesday, hitting $0.28. 1,208,757 shares of the stock were exchanged, compared to its average volume of 1,399,619. The stock has a market capitalization of $69.10 million, a price-to-earnings ratio of -0.34 and a beta of 1.06. Scilex has a 12 month low of $0.21 and a 12 month high of $2.30. The firm’s fifty day simple moving average is $0.40 and its two-hundred day simple moving average is $0.70.

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

Analyst Ratings Changes

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

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.