60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Short Interest Down 39.2% in December

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 156,600 shares, a drop of 39.2% from the December 15th total of 257,700 shares. Currently, 8.4% of the company’s stock are short sold. Based on an average daily volume of 544,500 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

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

60 Degrees Pharmaceuticals Price Performance

Shares of NASDAQ SXTP traded down $0.03 during mid-day trading on Tuesday, reaching $0.89. The company’s stock had a trading volume of 164,263 shares, compared to its average volume of 1,996,653. The stock has a fifty day moving average of $1.19 and a two-hundred day moving average of $1.00. 60 Degrees Pharmaceuticals has a 52 week low of $0.70 and a 52 week high of $12.24. The firm has a market capitalization of $2.04 million, a PE ratio of -0.09 and a beta of 4.40.

Insider Buying and Selling at 60 Degrees Pharmaceuticals

In other 60 Degrees Pharmaceuticals news, CEO Geoffrey S. Dow purchased 35,823 shares of the stock in a transaction dated Monday, December 9th. The shares were purchased at an average cost of $1.27 per share, with a total value of $45,495.21. Following the completion of the acquisition, the chief executive officer now directly owns 94,580 shares in the company, valued at $120,116.60. This trade represents a 60.97 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 66,372 shares of company stock worth $82,410. 10.27% of the stock is owned by corporate insiders.

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.