60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Sees Significant Growth in Short Interest

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 323,400 shares, an increase of 40.4% from the May 31st total of 230,400 shares. Based on an average daily trading volume, of 472,400 shares, the short-interest ratio is currently 0.7 days. Currently, 3.5% of the company’s stock are short sold.

60 Degrees Pharmaceuticals Stock Down 5.8 %

Shares of NASDAQ:SXTP opened at $0.25 on Monday. 60 Degrees Pharmaceuticals has a fifty-two week low of $0.20 and a fifty-two week high of $8.65. The firm’s 50 day moving average price is $0.26 and its 200 day moving average price is $0.42.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its earnings results on Wednesday, May 15th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.19. The business had revenue of $0.08 million during the quarter. Analysts expect that 60 Degrees Pharmaceuticals will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research note on Thursday, June 6th.

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.