Short Interest in 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Decreases By 94.6%

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 23,800 shares, a decline of 94.6% from the January 31st total of 443,900 shares. Based on an average daily trading volume, of 469,600 shares, the days-to-cover ratio is presently 0.1 days. Approximately 6.5% of the company’s shares are sold short.

60 Degrees Pharmaceuticals Stock Performance

60 Degrees Pharmaceuticals stock opened at $1.88 on Friday. The company has a market capitalization of $2.77 million, a PE ratio of -0.19 and a beta of 4.22. 60 Degrees Pharmaceuticals has a fifty-two week low of $1.78 and a fifty-two week high of $35.99. The firm has a 50 day moving average price of $4.41 and a 200 day moving average price of $5.52.

Insider Activity

In other 60 Degrees Pharmaceuticals news, CEO Geoffrey S. Dow bought 7,164 shares of the business’s stock in a transaction on Monday, December 9th. The stock was bought at an average price of $6.35 per share, with a total value of $45,491.40. Following the completion of the purchase, the chief executive officer now directly owns 18,916 shares in the company, valued at $120,116.60. The trade was a 60.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have bought 12,073 shares of company stock valued at $76,966. 10.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SXTP. HC Wainwright reissued a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Wednesday, February 19th.

60 Degrees Pharmaceuticals Company Profile

60 Degrees Pharmaceuticals, Inc, a specialty pharmaceutical company, engages in the development and commercialization of therapies for the prevention and treatment of infectious diseases in the United States. The company offers Arakoda for malaria preventative treatment. It also engages in the development of Tafenoquine (Arakoda regimen) that is in Phase IIb clinical trial for COVID-19 indications; Tafenoquine, which is in phase IIA clinical trials for babesiosis, fungal pneumonias, and candidiasis disease; and Celgosivir for respiratory viruses and dengue.