Short Interest in 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Declines 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 presently 0.0 days. Approximately 1.2% of the company’s shares are sold short.

60 Degrees Pharmaceuticals Stock Performance

Shares of SXTP stock opened at $1.89 on Monday. The company has a market capitalization of $2.78 million, a P/E ratio of -0.19 and a beta of 4.52. The company’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $4.95. 60 Degrees Pharmaceuticals has a 52 week low of $1.41 and a 52 week high of $35.99.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright reissued a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research note on Tuesday, February 25th.

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.