Short Interest in 60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Decreases By 15.7%

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the target of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 210,488 shares, a decrease of 15.7% from the January 15th total of 249,573 shares. Currently, 20.2% of the company’s stock are short sold. Based on an average trading volume of 19,656,509 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 19,656,509 shares, the days-to-cover ratio is currently 0.0 days. Currently, 20.2% of the company’s stock are short sold.

Analyst Ratings Changes

SXTP has been the topic of a number of research analyst reports. Zacks Research raised shares of 60 Degrees Pharmaceuticals to a “hold” rating in a research report on Tuesday, November 18th. HC Wainwright increased their price target on 60 Degrees Pharmaceuticals from $6.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Monday, December 29th. Finally, Ascendiant Capital Markets lowered their target price on 60 Degrees Pharmaceuticals from $12.00 to $11.20 and set a “buy” rating on the stock in a research report on Friday, November 28th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.60.

60 Degrees Pharmaceuticals Stock Performance

SXTP traded down $0.12 during midday trading on Wednesday, reaching $3.09. 55,735 shares of the company were exchanged, compared to its average volume of 6,572,687. The company has a market cap of $3.28 million, a price-to-earnings ratio of -0.22 and a beta of 2.94. 60 Degrees Pharmaceuticals has a one year low of $1.36 and a one year high of $17.68. The company’s fifty day moving average price is $3.19 and its 200 day moving average price is $4.55.

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.