Scilex (NASDAQ:SCLX) Stock Price Down 1.7% – Time to Sell?

Scilex Holding (NASDAQ:SCLX)’s stock price was down 1.7% during mid-day trading on Friday . The stock traded as low as $0.32 and last traded at $0.33. Approximately 801,202 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 1,312,250 shares. The stock had previously closed at $0.34.

Analyst Ratings Changes

Separately, D. Boral Capital began coverage on Scilex in a report on Monday, January 27th. They issued a “buy” rating and a $22.00 target price for the company.

Scilex Trading Down 1.7 %

The firm has a market capitalization of $80.24 million, a PE ratio of -0.40 and a beta of 1.06. The business has a fifty day moving average price of $0.42 and a two-hundred day moving average price of $0.75.

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

Hedge Funds Weigh In On Scilex

A number of hedge funds have recently modified their holdings of SCLX. RA Capital Management L.P. boosted its holdings 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 valued at $442,000 after acquiring an additional 775,039 shares during the period. Northern Trust Corp boosted its holdings in Scilex by 64.0% during the 4th quarter. Northern Trust Corp now owns 1,273,968 shares of the company’s stock valued at $543,000 after acquiring an additional 497,182 shares during the period. Norges Bank purchased a new position in Scilex during the 4th quarter valued at about $204,000. Jane Street Group LLC boosted its holdings in Scilex by 965.8% during the 4th 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. Finally, Janus Henderson Group PLC boosted its holdings in Scilex by 28.7% during the 4th quarter. Janus Henderson Group PLC now owns 687,547 shares of the company’s stock valued at $293,000 after acquiring an additional 153,245 shares during the period. 69.67% of the stock is currently owned by hedge funds and other institutional investors.

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.