60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Short Interest Up 412.3% in December

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 257,700 shares, a growth of 412.3% from the November 30th total of 50,300 shares. Based on an average daily volume of 307,300 shares, the short-interest ratio is currently 0.8 days. Currently, 13.9% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research note on Monday, December 23rd.

Insider Transactions at 60 Degrees Pharmaceuticals

In related news, CEO Geoffrey S. Dow acquired 35,823 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was acquired at an average price of $1.27 per share, with a total value of $45,495.21. Following the completion of the transaction, the chief executive officer now owns 94,580 shares of the company’s stock, valued at approximately $120,116.60. This represents a 60.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have acquired 66,372 shares of company stock worth $82,410. Company insiders own 10.27% of the company’s stock.

60 Degrees Pharmaceuticals Price Performance

Shares of SXTP stock traded down $0.05 on Friday, reaching $1.29. 140,120 shares of the stock were exchanged, compared to its average volume of 285,164. The stock has a 50 day moving average price of $1.11 and a 200 day moving average price of $0.92. The stock has a market cap of $2.96 million, a PE ratio of -0.13 and a beta of 5.36. 60 Degrees Pharmaceuticals has a one year low of $0.70 and a one year high of $15.00.

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.