Short Interest in 60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Increases By 402.6%

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 484,774 shares, a growth of 402.6% from the February 26th total of 96,462 shares. Currently, 46.6% of the company’s shares are short sold. Based on an average daily volume of 6,231,173 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

SXTP has been the subject of a number of analyst reports. Wall Street Zen raised shares of 60 Degrees Pharmaceuticals to a “sell” rating in a research note on Saturday, March 21st. Ascendiant Capital Markets dropped their target price on shares of 60 Degrees Pharmaceuticals from $12.00 to $11.20 and set a “buy” rating on the stock in a research report on Friday, November 28th. HC Wainwright boosted their price target on shares of 60 Degrees Pharmaceuticals from $6.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.60.

60 Degrees Pharmaceuticals Stock Performance

Shares of NASDAQ SXTP traded down $0.06 during mid-day trading on Thursday, reaching $1.49. The company had a trading volume of 38,836 shares, compared to its average volume of 4,774,807. The stock has a fifty day moving average of $3.09 and a two-hundred day moving average of $4.02. The company has a market capitalization of $1.57 million, a price-to-earnings ratio of -0.11 and a beta of 3.01. 60 Degrees Pharmaceuticals has a 12-month low of $1.29 and a 12-month high of $17.68.

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.