Short Interest in 60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Expands By 81.6%

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totaling 177,572 shares, an increase of 81.6% from the December 15th total of 97,803 shares. Based on an average daily trading volume, of 263,642 shares, the days-to-cover ratio is presently 0.7 days. Currently, 4.3% of the shares of the company are short sold. Currently, 4.3% of the shares of the company are short sold. Based on an average daily trading volume, of 263,642 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SXTP. Zacks Research raised 60 Degrees Pharmaceuticals to a “hold” rating in a report on Tuesday, November 18th. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of 60 Degrees Pharmaceuticals in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Monday, December 29th. Finally, Ascendiant Capital Markets reduced their price target on shares of 60 Degrees Pharmaceuticals from $3.00 to $2.80 and set a “buy” rating for the company in a research report on Friday, November 28th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.40.

60 Degrees Pharmaceuticals Stock Performance

SXTP stock opened at $0.48 on Thursday. The stock has a fifty day moving average of $0.86 and a 200-day moving average of $1.29. 60 Degrees Pharmaceuticals has a fifty-two week low of $0.34 and a fifty-two week high of $6.00. The company has a market capitalization of $2.02 million, a price-to-earnings ratio of -0.14 and a beta of 2.98.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.55. The firm had revenue of ($0.01) million during the quarter, compared to the consensus estimate of $0.38 million. Equities analysts predict that 60 Degrees Pharmaceuticals will post -5.09 EPS for the current year.

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.