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

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 51,400 shares, a growth of 252.1% from the February 28th total of 14,600 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average trading volume of 437,500 shares, the days-to-cover ratio is currently 0.1 days.

60 Degrees Pharmaceuticals Stock Down 0.5 %

Shares of SXTP stock opened at $1.88 on Thursday. The company has a 50 day moving average price of $2.75 and a 200-day moving average price of $4.71. 60 Degrees Pharmaceuticals has a 52 week low of $1.41 and a 52 week high of $35.99. The firm has a market capitalization of $2.77 million, a PE ratio of -0.19 and a beta of 4.52.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SXTP. HC Wainwright restated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research note on Tuesday, February 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Saturday, March 22nd.

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.