Scilex Stock to Reverse Split on Tuesday, April 15th (NASDAQ:SCLX)

Scilex Holding (NASDAQ:SCLX)’s stock is scheduled to reverse split on Tuesday, April 15th. The 1-35 reverse split was announced on Friday, April 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, April 14th.

Scilex Trading Down 21.5 %

Shares of NASDAQ:SCLX traded down $0.05 on Friday, hitting $0.20. 5,087,681 shares of the company were exchanged, compared to its average volume of 1,451,252. The stock’s 50 day moving average price is $0.30 and its 200 day moving average price is $0.53. Scilex has a 1-year low of $0.18 and a 1-year high of $2.30. The firm has a market capitalization of $47.71 million, a P/E ratio of -0.24 and a beta of 1.04.

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

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital reaffirmed a “hold” rating on shares of Scilex in a research report on Friday.

Hedge Funds Weigh In On Scilex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCLX. RA Capital Management L.P. boosted its stake in shares of Scilex by 296.7% during the fourth quarter. RA Capital Management L.P. now owns 1,036,218 shares of the company’s stock worth $442,000 after buying an additional 775,039 shares during the period. Northern Trust Corp lifted its position in Scilex by 64.0% during the 4th quarter. Northern Trust Corp now owns 1,273,968 shares of the company’s stock worth $543,000 after acquiring an additional 497,182 shares during the period. Norges Bank purchased a new position in shares of Scilex in the 4th quarter valued at approximately $204,000. Jane Street Group LLC raised its stake in shares of Scilex by 965.8% during the fourth quarter. Jane Street Group LLC now owns 321,480 shares of the company’s stock worth $137,000 after purchasing an additional 291,316 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Scilex by 28.7% during the fourth quarter. Janus Henderson Group PLC now owns 687,547 shares of the company’s stock worth $293,000 after purchasing an additional 153,245 shares during the period. 69.67% of the stock is owned by institutional investors and hedge funds.

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.