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

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) saw a significant decline in short interest in 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. Currently, 6.5% of the shares of the company are short sold. Based on an average daily trading volume, of 469,600 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SXTP shares. HC Wainwright reiterated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Tuesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Wednesday, February 19th.

60 Degrees Pharmaceuticals Stock Down 6.5 %

Shares of NASDAQ SXTP opened at $1.88 on Friday. The firm has a market cap of $2.77 million, a price-to-earnings ratio of -0.19 and a beta of 4.22. The company’s 50-day simple moving average is $4.41 and its 200-day simple moving average is $5.52. 60 Degrees Pharmaceuticals has a 52-week low of $1.78 and a 52-week high of $35.99.

Insider Buying and Selling at 60 Degrees Pharmaceuticals

In other 60 Degrees Pharmaceuticals news, CEO Geoffrey S. Dow bought 7,164 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were purchased at an average cost of $6.35 per share, for a total transaction of $45,491.40. Following the transaction, the chief executive officer now directly owns 18,916 shares of the company’s stock, valued at approximately $120,116.60. The trade was a 60.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders bought 12,073 shares of company stock valued at $76,966. Corporate insiders own 10.27% of the company’s stock.

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.