60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Short Interest Update

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

Insider Buying and Selling

In related news, CEO Geoffrey S. Dow acquired 35,823 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were bought at an average price of $1.27 per share, for a total transaction of $45,495.21. Following the purchase, the chief executive officer now directly owns 94,580 shares in the company, valued at approximately $120,116.60. This trade represents a 60.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 66,372 shares of company stock worth $82,410 over the last ninety days. Company insiders own 10.27% of the company’s stock.

60 Degrees Pharmaceuticals Stock Performance

SXTP traded up $0.29 during trading hours on Wednesday, reaching $1.06. The company’s stock had a trading volume of 55,493,617 shares, compared to its average volume of 4,453,566. The company’s 50-day moving average is $1.17 and its 200-day moving average is $1.05. 60 Degrees Pharmaceuticals has a 52 week low of $0.70 and a 52 week high of $7.20. The firm has a market cap of $2.44 million, a PE ratio of -0.11 and a beta of 4.40.

Analysts Set New Price Targets

Several analysts have issued reports on SXTP shares. HC Wainwright reaffirmed a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Friday, January 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Saturday, January 18th.

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.