60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Short Interest Down 39.2% in December

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 156,600 shares, a decline of 39.2% from the December 15th total of 257,700 shares. Based on an average trading volume of 544,500 shares, the days-to-cover ratio is currently 0.3 days. Currently, 8.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Friday.

60 Degrees Pharmaceuticals Stock Down 3.5 %

Shares of NASDAQ:SXTP traded down $0.03 during midday trading on Tuesday, reaching $0.89. The company’s stock had a trading volume of 164,263 shares, compared to its average volume of 1,996,653. 60 Degrees Pharmaceuticals has a 12-month low of $0.70 and a 12-month high of $12.24. The firm has a 50 day moving average of $1.19 and a 200-day moving average of $1.00. The firm has a market capitalization of $2.04 million, a P/E ratio of -0.09 and a beta of 4.40.

Insider Transactions at 60 Degrees Pharmaceuticals

In other news, CEO Geoffrey S. Dow bought 35,823 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average cost of $1.27 per share, with a total value of $45,495.21. Following the completion of the purchase, the chief executive officer now directly owns 94,580 shares in the company, valued at $120,116.60. This represents a 60.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders acquired 66,372 shares of company stock worth $82,410. 10.27% of the stock is currently owned by insiders.

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.