Short Interest in 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Declines By 44.9%

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 17,900 shares, a decrease of 44.9% from the May 15th total of 32,500 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,570,000 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analyst Weigh In

SXTP has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Wednesday, June 11th. Ascendiant Capital Markets upped their price target on shares of 60 Degrees Pharmaceuticals from $5.80 to $7.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. Wall Street Zen lowered shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, HC Wainwright restated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Friday, March 28th.

60 Degrees Pharmaceuticals Price Performance

NASDAQ SXTP opened at $2.16 on Tuesday. The stock has a market capitalization of $3.18 million, a PE ratio of -0.21 and a beta of 2.88. 60 Degrees Pharmaceuticals has a 1 year low of $1.41 and a 1 year high of $35.99. The business’s 50-day moving average is $2.61 and its 200 day moving average is $3.50.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its earnings results on Thursday, May 15th. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.31) by ($0.25). The company had revenue of $0.18 million during the quarter, compared to the consensus estimate of $0.15 million. As a group, equities research analysts anticipate that 60 Degrees Pharmaceuticals will post -5.09 earnings per share 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.