Scilex Holding Company (NASDAQ:SCLX) Short Interest Down 15.4% in April

Scilex Holding Company (NASDAQ:SCLX) was the target of a large drop in short interest in April. As of April 15th, there was short interest totaling 158,978 shares, a drop of 15.4% from the March 31st total of 187,953 shares. Based on an average daily volume of 45,905 shares, the days-to-cover ratio is currently 3.5 days. Approximately 2.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Scilex in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Scilex presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Scilex

A number of institutional investors and hedge funds have recently bought and sold shares of SCLX. Goldman Sachs Group Inc. lifted its position in Scilex by 31.2% in the first 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 purchased a new stake in Scilex in the second quarter valued at $80,000. BNP Paribas Financial Markets lifted its position in Scilex by 189.6% in the third quarter. BNP Paribas Financial Markets now owns 7,430 shares of the company’s stock valued at $146,000 after acquiring an additional 4,864 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Scilex in the fourth quarter valued at $150,000. Finally, XTX Topco Ltd purchased a new stake in Scilex in the fourth quarter valued at $249,000. 69.67% of the stock is owned by hedge funds and other institutional investors.

Scilex Price Performance

Shares of SCLX traded up $0.06 during midday trading on Friday, reaching $10.58. The stock had a trading volume of 133,505 shares, compared to its average volume of 56,102. Scilex has a 1-year low of $3.92 and a 1-year high of $34.27. The company’s fifty day simple moving average is $7.55 and its two-hundred day simple moving average is $11.97. The company has a market cap of $89.85 million, a price-to-earnings ratio of -0.29 and a beta of 1.40.

Scilex (NASDAQ:SCLX) last announced its quarterly earnings data on Friday, April 10th. The company reported ($4.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($4.13). The firm had revenue of $4.79 million for the quarter, compared to analyst estimates of $12.10 million.

About Scilex

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.