60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Sees Large Decline in Short Interest

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 29,200 shares, a drop of 43.2% from the March 15th total of 51,400 shares. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 2.1% of the company’s shares are sold short.

60 Degrees Pharmaceuticals Trading Down 0.3 %

Shares of 60 Degrees Pharmaceuticals stock opened at $3.16 on Friday. 60 Degrees Pharmaceuticals has a 12 month low of $1.41 and a 12 month high of $35.99. The firm has a market capitalization of $4.65 million, a P/E ratio of -0.31 and a beta of 3.41. The business has a fifty day simple moving average of $2.23 and a two-hundred day simple moving average of $4.19.

Analysts Set New Price Targets

Several analysts have weighed in on SXTP shares. HC Wainwright reiterated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Friday, March 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Tuesday, April 8th.

About 60 Degrees Pharmaceuticals

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.