The stock price of Scilex Holding Company (NASDAQ: SCLX) has jumped by 2.47 compared to previous close of 0.95. Despite this, the company has seen a gain of 22.80% in its stock price over the last five trading days. globenewswire.com reported 2024-10-16 that PALO ALTO, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) — Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that it anticipates the filing of the Registration Statement with the SEC before the end of October 2024 relating to the previously announced proposed Business Combination with Denali Capital Acquisition Corp. (Nasdaq: DECA) for a pre-transaction equity value of $2.5 billion which transaction is expected to occur by the end of fourth quarter of 2024 or the first quarter of 2025.
Is It Worth Investing in Scilex Holding Company (NASDAQ: SCLX) Right Now?
The stock has a 36-month beta value of 1.17. Opinions on the stock are mixed, with 2 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for SCLX is 116.25M, and at present, short sellers hold a 9.53% of that float. On October 21, 2024, the average trading volume of SCLX was 984.81K shares.
SCLX’s Market Performance
SCLX stock saw a decrease of 22.80% in the past week, with a monthly decline of -5.83% and a quarterly a decrease of -44.25%. The volatility ratio for the week is 14.60%, and the volatility levels for the last 30 days are 12.06% for Scilex Holding Company (SCLX). The simple moving average for the last 20 days is 12.12% for SCLX’s stock, with a simple moving average of -28.98% for the last 200 days.
Analysts’ Opinion of SCLX
Many brokerage firms have already submitted their reports for SCLX stocks, with Alliance Global Partners repeating the rating for SCLX by listing it as a “Buy.” The predicted price for SCLX in the upcoming period, according to Alliance Global Partners is $14 based on the research report published on October 16, 2024 of the current year 2024.
Rodman & Renshaw, on the other hand, stated in their research note that they expect to see SCLX reach a price target of $13. The rating they have provided for SCLX stocks is “Buy” according to the report published on June 13th, 2024.
B. Riley Securities gave a rating of “Buy” to SCLX, setting the target price at $4 in the report published on October 16th of the previous year.
SCLX Trading at -6.14% from the 50-Day Moving Average
After a stumble in the market that brought SCLX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -63.12% of loss for the given period.
Volatility was left at 12.06%, however, over the last 30 days, the volatility rate increased by 14.60%, as shares sank -3.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -26.52% lower at present.
During the last 5 trading sessions, SCLX rose by +22.80%, which changed the moving average for the period of 200-days by -51.01% in comparison to the 20-day moving average, which settled at $0.8652. In addition, Scilex Holding Company saw -52.45% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SCLX starting from Followwill Dorman, who purchase 1,000 shares at the price of $0.99 back on Oct 18 ’24. After this action, Followwill Dorman now owns 2,300 shares of Scilex Holding Company, valued at $990 using the latest closing price.
Chun Jay, the Director of Scilex Holding Company, purchase 5,000 shares at $0.95 during a trade that took place back on Oct 18 ’24, which means that Chun Jay is holding 112,500 shares at $4,750 based on the most recent closing price.
Stock Fundamentals for SCLX
Current profitability levels for the company are sitting at:
- -1.95 for the present operating margin
- 0.62 for the gross margin
The net margin for Scilex Holding Company stands at -2.34. The total capital return value is set at 0.66.
Based on Scilex Holding Company (SCLX), the company’s capital structure generated -0.96 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at -0.49. The interest coverage ratio of the stock is -45.77.
Currently, EBITDA for the company is -101.28 million with net debt to EBITDA at -1.05. When we switch over and look at the enterprise to sales, we see a ratio of 5.63. The receivables turnover for the company is 1.34for trailing twelve months and the total asset turnover is 0.49. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.20.
Conclusion
To sum up, Scilex Holding Company (SCLX) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
