Short Interest in 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Drops By 38.7%

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 14,600 shares, a drop of 38.7% from the February 13th total of 23,800 shares. Based on an average trading volume of 473,200 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SXTP. HC Wainwright reissued a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Tuesday, February 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Friday, March 7th.

60 Degrees Pharmaceuticals Price Performance

Shares of NASDAQ:SXTP traded up $0.14 during midday trading on Friday, reaching $1.89. 25,582 shares of the company’s stock were exchanged, compared to its average volume of 166,662. The stock has a market cap of $2.78 million, a price-to-earnings ratio of -0.19 and a beta of 4.53. 60 Degrees Pharmaceuticals has a fifty-two week low of $1.41 and a fifty-two week high of $35.99. The firm’s 50 day simple moving average is $3.35 and its two-hundred day simple moving average is $5.05.

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.