60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Sees Significant Growth in Short Interest

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 87,000 shares, an increase of 133.2% from the October 31st total of 37,300 shares. Based on an average daily volume of 91,900 shares, the days-to-cover ratio is presently 0.9 days. Approximately 5.6% of the shares of the company are sold short.

60 Degrees Pharmaceuticals Price Performance

NASDAQ SXTP traded down $0.03 during mid-day trading on Friday, reaching $1.06. 22,842 shares of the stock were exchanged, compared to its average volume of 240,494. The stock has a 50 day simple moving average of $1.01 and a 200-day simple moving average of $0.77. 60 Degrees Pharmaceuticals has a one year low of $0.70 and a one year high of $18.36. The stock has a market cap of $2.43 million, a P/E ratio of -0.11 and a beta of 4.78.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a report on Friday, November 15th.

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.