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Scilex Holding Company (NASDAQ: SCLX) Is A Bargain Stock You Should Consider.

In the latest trading session, 0.66 million Scilex Holding Company (NASDAQ:SCLX) shares changed hands as the company’s beta touched 0.55. With the company’s most recent per share price at $1.85 changed hands at -$0.4 or -18.00% at last look, the market valuation stands at $273.80M. SCLX’s current price is a discount, trading about -813.51% off its 52-week high of $16.90. The share price had its 52-week low at $2.16, which suggests the last value was -16.76% down since then. When we look at Scilex Holding Company’s average trading volume, we note the 10-day average is 1.28 million shares, with the 3-month average coming to 647.42K.

Scilex Holding Company (NASDAQ:SCLX) trade information

Instantly SCLX was in red as seen in intraday trades today. With action -23.44%, the performance over the past five days has been red. The drop to weekly highs of 2.54 on Friday, 09/15/23 subtracted -18.00% to the stock’s daily price. The company’s shares are showing year-to-date downside of -53.76%, with the 5-day performance at -23.44% in the red. However, in the 30-day time frame, Scilex Holding Company (NASDAQ:SCLX) is -53.99% down. Looking at the short shares, we see there were 2.61 million shares sold at short interest cover period of 4.78 days.

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Scilex Holding Company (NASDAQ:SCLX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 42.80% of Scilex Holding Company shares while 10.56% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 18.47%. There are 10.56% institutions holding the Scilex Holding Company stock share, with State Street Corporation the top institutional holder. As of Jun 29, 2023, the company held 4.91% of the shares, roughly 7.33 million SCLX shares worth $40.8 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 3.66% or 5.46 million shares worth $30.4 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 5.94 million shares estimated at $32.48 million under it, the former controlled 3.98% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.72% of the shares, roughly 2.56 million shares worth around $14.26 million.

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