60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Short Interest Up 402.6% in March

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 484,774 shares, an increase of 402.6% from the February 26th total of 96,462 shares. Based on an average daily volume of 6,231,173 shares, the short-interest ratio is presently 0.1 days. Currently, 46.6% of the company’s stock are short sold. Currently, 46.6% of the company’s stock are short sold. Based on an average daily volume of 6,231,173 shares, the short-interest ratio is presently 0.1 days.

60 Degrees Pharmaceuticals Stock Performance

Shares of 60 Degrees Pharmaceuticals stock traded down $0.41 during trading on Tuesday, reaching $1.42. The company’s stock had a trading volume of 588,141 shares, compared to its average volume of 4,937,940. 60 Degrees Pharmaceuticals has a one year low of $1.29 and a one year high of $17.68. The firm has a market cap of $1.51 million, a price-to-earnings ratio of -0.10 and a beta of 3.01. The business’s fifty day moving average price is $3.11 and its 200-day moving average price is $4.07.

Wall Street Analysts Forecast Growth

SXTP has been the subject of several recent research reports. HC Wainwright boosted their target price on shares of 60 Degrees Pharmaceuticals from $6.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Monday, December 29th. Ascendiant Capital Markets reduced their price objective on shares of 60 Degrees Pharmaceuticals from $12.00 to $11.20 and set a “buy” rating for the company in a research note on Friday, November 28th. Finally, Wall Street Zen raised shares of 60 Degrees Pharmaceuticals to a “sell” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.60.

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.