60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Sees Significant Decrease in Short Interest

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the recipient of a significant 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. Based on an average daily volume of 722,300 shares, the short-interest ratio is presently 0.1 days. Approximately 4.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

60 Degrees Pharmaceuticals Stock Performance

Shares of NASDAQ SXTP traded down $0.07 during midday trading on Monday, hitting $1.31. 3,896 shares of the stock traded hands, compared to its average volume of 285,558. 60 Degrees Pharmaceuticals has a one year low of $1.03 and a one year high of $18.36. The business has a 50 day moving average price of $0.73 and a two-hundred day moving average price of $0.27. The company has a market cap of $15.99 million, a PE ratio of -1.33 and a beta of 4.61.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($4.23) earnings per share for the quarter, missing the consensus estimate of ($2.79) by ($1.44). The business had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $0.11 million. As a group, equities research analysts forecast that 60 Degrees Pharmaceuticals will post -5.43 EPS for the current fiscal year.

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.