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

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

60 Degrees Pharmaceuticals Trading Down 8.8 %

NASDAQ:SXTP traded down $0.08 during mid-day trading on Thursday, reaching $0.83. 248,935 shares of the stock were exchanged, compared to its average volume of 1,641,572. The business has a fifty day moving average price of $1.19 and a 200 day moving average price of $1.01. 60 Degrees Pharmaceuticals has a 1-year low of $0.70 and a 1-year high of $11.88. The firm has a market capitalization of $1.90 million, a PE ratio of -0.08 and a beta of 4.40.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research note on Friday, January 10th.

Insider Buying and Selling at 60 Degrees Pharmaceuticals

In related news, CEO Geoffrey S. Dow acquired 35,823 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was acquired at an average cost of $1.27 per share, for a total transaction of $45,495.21. Following the completion of the acquisition, the chief executive officer now directly owns 94,580 shares of the company’s stock, valued at approximately $120,116.60. The trade was a 60.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 66,372 shares of company stock valued at $82,410. Company insiders own 10.27% of the company’s stock.

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.