60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Short Interest Update

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 97,803 shares, an increase of 80.9% from the November 30th total of 54,062 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average trading volume of 91,702 shares, the short-interest ratio is presently 1.1 days. Based on an average trading volume of 91,702 shares, the short-interest ratio is presently 1.1 days. Approximately 2.4% of the shares of the stock are sold short.

60 Degrees Pharmaceuticals Price Performance

NASDAQ SXTP opened at $0.70 on Friday. The company has a market cap of $2.94 million, a P/E ratio of -0.20 and a beta of 2.82. 60 Degrees Pharmaceuticals has a 12 month low of $0.65 and a 12 month high of $8.00. The company has a 50-day moving average of $1.09 and a 200-day moving average of $1.45.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last released its earnings results on Thursday, November 13th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.55. The company had revenue of ($0.01) million during the quarter, compared to analyst estimates of $0.38 million. As a group, equities research analysts anticipate that 60 Degrees Pharmaceuticals will post -5.09 EPS for the current year.

Wall Street Analyst Weigh In

SXTP has been the subject of several analyst reports. Ascendiant Capital Markets cut their target price on shares of 60 Degrees Pharmaceuticals from $3.00 to $2.80 and set a “buy” rating for the company in a research note on Friday, November 28th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of 60 Degrees Pharmaceuticals in a report on Friday, November 14th. Zacks Research raised shares of 60 Degrees Pharmaceuticals to a “hold” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.40.

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.