Short Interest in 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Drops By 39.2%

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 156,600 shares, a drop of 39.2% from the December 15th total of 257,700 shares. Based on an average trading volume of 544,500 shares, the days-to-cover ratio is presently 0.3 days. Approximately 8.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a report on Friday, January 10th.

60 Degrees Pharmaceuticals Trading Down 8.8 %

Shares of NASDAQ:SXTP traded down $0.08 during mid-day trading on Thursday, reaching $0.83. The company had a trading volume of 244,895 shares, compared to its average volume of 1,640,150. 60 Degrees Pharmaceuticals has a one year low of $0.70 and a one year high of $11.88. The company’s 50-day moving average price is $1.19 and its 200-day moving average price is $1.01. The firm has a market cap of $1.90 million, a price-to-earnings ratio of -0.08 and a beta of 4.40.

Insider Buying and Selling

In other 60 Degrees Pharmaceuticals news, CEO Geoffrey S. Dow bought 35,823 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was purchased at an average cost of $1.27 per share, with a total value of $45,495.21. Following the transaction, the chief executive officer now directly owns 94,580 shares in the company, valued at $120,116.60. This trade represents a 60.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have acquired 66,372 shares of company stock worth $82,410. 10.27% of the stock is owned by company insiders.

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.