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

Scilex Holding (NASDAQ:SCLX - Get Free Report) saw a significant increase in short interest during 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. Currently, 3.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is currently 4.3 days.

Analysts Set New Price Targets

Separately, D. Boral Capital reissued a "buy" rating and set a $22.00 target price on shares of Scilex in a report on Friday, February 28th.

Scilex Price Performance

Scilex stock traded up $0.02 during trading hours on Friday, hitting $0.35. The company had a trading volume of 1,162,829 shares, compared to its average volume of 1,405,599. Scilex has a one year low of $0.21 and a one year high of $2.30. The firm has a market cap of $84.33 million, a PE ratio of -0.42 and a beta of 1.15. The firm has a 50-day moving average of $0.39 and a 200 day moving average of $0.69.

Scilex (NASDAQ:SCLX - Get Free Report) last announced its earnings results on Friday, January 17th. The company reported ($0.18) earnings per share for the quarter. As a group, research analysts expect that Scilex will post -0.57 earnings per share for the current year.

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Institutional Investors Weigh In On Scilex

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Donald L. Hagan LLC raised its stake in Scilex by 15.4% in the 3rd quarter. Donald L. Hagan LLC now owns 130,792 shares of the company's stock worth $121,000 after purchasing an additional 17,500 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Scilex by 3.5% during the third quarter. Janus Henderson Group PLC now owns 534,302 shares of the company's stock worth $494,000 after purchasing an additional 17,848 shares during the period. State Street Corp raised its position in shares of Scilex by 0.7% in the third quarter. State Street Corp now owns 7,484,310 shares of the company's stock valued at $6,920,000 after buying an additional 54,404 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of 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 buying an additional 291,316 shares during the period. Finally, Norges Bank acquired a new stake in Scilex during the fourth quarter worth approximately $204,000. Institutional investors and hedge funds 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.