60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Short Interest Update

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SXTP shares. HC Wainwright reissued a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a report on Friday, January 10th. Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Saturday, January 18th.

60 Degrees Pharmaceuticals Trading Up 37.5 %

Shares of SXTP traded up $0.29 during trading hours on Wednesday, hitting $1.06. 55,493,617 shares of the stock traded hands, compared to its average volume of 4,453,566. The business has a fifty day moving average of $1.17 and a 200-day moving average of $1.05. The firm has a market capitalization of $2.44 million, a PE ratio of -0.11 and a beta of 4.40. 60 Degrees Pharmaceuticals has a 1-year low of $0.70 and a 1-year high of $7.20.

Insider Buying and Selling

In related news, CEO Geoffrey S. Dow acquired 35,823 shares of the firm’s stock in a transaction 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 acquisition, the chief executive officer now owns 94,580 shares of the company’s stock, valued at $120,116.60. This trade represents a 60.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 66,372 shares of company stock valued at $82,410 over the last ninety days. 10.27% of the stock is owned by company insiders.

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.