Geoffrey Dow Purchases 7,350 Shares of 60 Degrees Pharmaceuticals (NASDAQ:SXTP) Stock

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) CEO Geoffrey Dow acquired 7,350 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $1.38 per share, for a total transaction of $10,143.00. Following the completion of the acquisition, the chief executive officer owned 24,131 shares in the company, valued at approximately $33,300.78. The trade was a 43.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

60 Degrees Pharmaceuticals Stock Down 2.0%

Shares of SXTP opened at $1.46 on Wednesday. 60 Degrees Pharmaceuticals Inc. has a fifty-two week low of $1.22 and a fifty-two week high of $10.77. The firm’s 50 day moving average price is $1.58 and its 200 day moving average price is $2.47. The company has a market cap of $3.88 million, a P/E ratio of -0.16 and a beta of 2.65.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last announced its earnings results on Friday, May 15th. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.52). The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.44 million. Research analysts forecast that 60 Degrees Pharmaceuticals Inc. will post -3.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

SXTP has been the topic of several recent research reports. HC Wainwright downgraded shares of 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 20th. Ascendiant Capital Markets cut their target price on shares of 60 Degrees Pharmaceuticals from $4.20 to $3.70 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, April 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.85.

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.