60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Shares Shorted: Short Interest Down 38.3% in September

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 133,355 shares, a drop of 38.3% from the September 15th total of 215,989 shares. Based on an average daily volume of 82,820 shares, the short-interest ratio is currently 1.6 days. Approximately 3.9% of the shares of the stock are sold short.

60 Degrees Pharmaceuticals Trading Down 2.0%

Shares of SXTP stock traded down $0.02 during trading hours on Friday, hitting $0.88. 6,739 shares of the company’s stock were exchanged, compared to its average volume of 1,487,333. The company has a market capitalization of $3.10 million, a PE ratio of -0.18 and a beta of 2.40. 60 Degrees Pharmaceuticals has a 12-month low of $0.83 and a 12-month high of $8.62. The business’s 50 day simple moving average is $1.06 and its 200-day simple moving average is $1.39.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.16). The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.20 million. Equities analysts anticipate that 60 Degrees Pharmaceuticals will post -3.31 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Monday, September 21st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.85.

60 Degrees Pharmaceuticals Company Profile

60 Degrees Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for infectious and tropical diseases. The company’s lead product is Arakoda (tafenoquine), an oral antimalarial approved by the U.S. Food and Drug Administration for the prevention of malaria in adults.

Arakoda is designed for use as a malaria-prophylaxis regimen before, during and after travel to areas where malaria is present. The product is marketed in the United States, and 60 Degrees Pharmaceuticals has also pursued opportunities to expand access through international partnerships and regulatory development.

The company was founded in 2010 and is headquartered in Washington, DC In addition to its malaria business, 60 Degrees Pharmaceuticals has evaluated tafenoquine and related therapies for other infectious diseases, including babesiosis, an emerging tick-borne disease.