Scilex (NASDAQ:SCLX) Sets New 52-Week Low - Should You Sell?

Shares of Scilex Holding (NASDAQ:SCLX - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.90 and last traded at $6.12, with a volume of 344459 shares changing hands. The stock had previously closed at $6.92.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SCLX shares. D. Boral Capital reissued a "hold" rating on shares of Scilex in a research report on Friday, April 11th. D Boral Capital cut shares of Scilex from a "strong-buy" rating to a "hold" rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $455.00.

Scilex Price Performance

The firm has a 50 day moving average of $9.70 and a two-hundred day moving average of $17.65. The stock has a market cap of $1.46 billion, a PE ratio of -7.25 and a beta of 1.04.

Scilex (NASDAQ:SCLX - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The company reported ($6.30) earnings per share (EPS) for the quarter. As a group, equities analysts anticipate that Scilex Holding will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. boosted 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 purchasing an additional 775,039 shares during the period. 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 during the period. Norges Bank acquired a new stake in shares of Scilex during the 4th quarter valued at approximately $204,000. Jane Street Group LLC grew its holdings in shares of Scilex by 965.8% in the 4th quarter. Jane Street Group LLC now owns 321,480 shares of the company's stock worth $137,000 after acquiring an additional 291,316 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Scilex by 28.7% in the 4th quarter. Janus Henderson Group PLC now owns 687,547 shares of the company's stock valued at $293,000 after purchasing an additional 153,245 shares in the last quarter. Hedge funds and other institutional investors own 69.67% of the company's stock.

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.