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 drop in short interest in May. As of May 31st, there was short interest totalling 17,900 shares, a drop of 44.9% from the May 15th total of 32,500 shares. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is currently 0.0 days. Approximately 1.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Wednesday, June 11th. HC Wainwright reaffirmed a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research note on Friday, March 28th. Ascendiant Capital Markets raised their target price on shares of 60 Degrees Pharmaceuticals from $5.80 to $7.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. Finally, Wall Street Zen downgraded shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday.

60 Degrees Pharmaceuticals Stock Performance

Shares of NASDAQ SXTP opened at $2.16 on Tuesday. The company has a 50 day simple moving average of $2.61 and a two-hundred day simple moving average of $3.50. 60 Degrees Pharmaceuticals has a fifty-two week low of $1.41 and a fifty-two week high of $35.99. The company has a market capitalization of $3.18 million, a price-to-earnings ratio of -0.21 and a beta of 2.88.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.31) by ($0.25). The firm had revenue of $0.18 million for the quarter, compared to analysts’ expectations of $0.15 million. On average, analysts forecast that 60 Degrees Pharmaceuticals will post -5.09 earnings per share for the current fiscal year.

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.