Could Scilex Holding Company (NASDAQ: SCLX) Post Life-Changing Returns?

In the last trading session, 1.51 million Scilex Holding Company (NASDAQ:SCLX) shares changed hands as the company’s beta touched 0.31. With the company’s per share price at $1.07 changed hands at $0.0 or 0.00% during last session, the market valuation stood at $166.86M. SCLX’s last price was a discount, traded about -1479.44% off its 52-week high of $16.90. The share price had its 52-week low at $1.06, which suggests the last value was 0.93% up since then. When we look at Scilex Holding Company’s average trading volume, we note the 10-day average is 1.03 million shares, with the 3-month average coming to 877.65K.

Analysts gave the Scilex Holding Company (SCLX) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended SCLX as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Scilex Holding Company’s EPS for the current quarter is expected to be -$0.21.

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Scilex Holding Company (NASDAQ:SCLX) trade information

The company’s shares are showing year-to-date downside of -73.18%, with the 5-day performance at -17.05% in the red. However, in the 30-day time frame, Scilex Holding Company (NASDAQ:SCLX) is -35.93% down. Looking at the short shares, we see there were 4.88 million shares sold at short interest cover period of 5.7 days.

The consensus price target for the stock as assigned by Wall Street analysts is $6.92, meaning bulls need an upside of 84.54% from its current market value. According to analyst projections, SCLX’s forecast low is $4.00 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -1021.5% plunge from its current level, while the stock would need to soar -273.83% for it to hit the projected low.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $12.36 million. 3 analysts are of the opinion that Scilex Holding Company’s revenue for the quarter ending Mar 2024 will be $16.36 million.

SCLX Dividends

Scilex Holding Company is expected to release its next quarterly earnings report in December.

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 4.77% of the shares, roughly 7.33 million SCLX shares worth $40.8 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 3.56% or 5.46 million shares worth $30.4 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 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 $17.04 million under it, the former controlled 3.87% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.67% of the shares, roughly 2.56 million shares worth around $14.26 million.

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