Short Interest in 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Drops By 31.3%

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 72,000 shares, a decline of 31.3% from the August 15th total of 104,800 shares. Currently, 4.7% of the shares of the company are short sold. Based on an average daily volume of 722,300 shares, the days-to-cover ratio is presently 0.1 days.

60 Degrees Pharmaceuticals Trading Up 1.5 %

Shares of SXTP traded up $0.02 during trading hours on Friday, reaching $1.38. The company had a trading volume of 101,211 shares, compared to its average volume of 235,349. 60 Degrees Pharmaceuticals has a 12-month low of $1.03 and a 12-month high of $18.36. The firm has a 50 day simple moving average of $0.73 and a 200-day simple moving average of $0.27. The company has a market capitalization of $2.44 million, a price-to-earnings ratio of -1.33 and a beta of 4.61.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last issued its earnings results on Wednesday, August 14th. The company reported ($4.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.79) by ($1.44). The business had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.11 million. Sell-side analysts forecast that 60 Degrees Pharmaceuticals will post -5.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.