Short Interest in 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Grows By 412.3%

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 257,700 shares, an increase of 412.3% from the November 30th total of 50,300 shares. Approximately 13.9% of the company’s shares are sold short. Based on an average trading volume of 307,300 shares, the short-interest ratio is presently 0.8 days.

60 Degrees Pharmaceuticals Price Performance

NASDAQ:SXTP traded up $0.01 during trading hours on Thursday, reaching $1.33. The company had a trading volume of 74,351 shares, compared to its average volume of 285,458. The business’s 50 day moving average price is $1.10 and its 200-day moving average price is $0.91. The firm has a market cap of $3.04 million, a PE ratio of -0.13 and a beta of 5.36. 60 Degrees Pharmaceuticals has a 1-year low of $0.70 and a 1-year high of $15.00.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Monday.

Insider Activity at 60 Degrees Pharmaceuticals

In related news, CEO Geoffrey S. Dow acquired 35,823 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were purchased at an average price of $1.27 per share, with a total value of $45,495.21. Following the completion of the purchase, the chief executive officer now directly owns 94,580 shares of the company’s stock, valued at $120,116.60. This represents a 60.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 66,372 shares of company stock worth $82,410 over the last quarter. Corporate insiders own 10.27% of the company’s stock.

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.