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

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) saw a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 107,275 shares, a decrease of 49.0% from the January 29th total of 210,488 shares. Based on an average daily trading volume, of 404,658 shares, the short-interest ratio is presently 0.3 days. Currently, 10.3% of the company’s shares are short sold. Currently, 10.3% of the company’s shares are short sold. Based on an average daily trading volume, of 404,658 shares, the short-interest ratio is presently 0.3 days.

60 Degrees Pharmaceuticals Trading Down 3.6%

NASDAQ SXTP opened at $2.96 on Friday. The stock has a market cap of $3.14 million, a PE ratio of -0.21 and a beta of 2.94. 60 Degrees Pharmaceuticals has a 12 month low of $1.36 and a 12 month high of $17.68. The company’s 50-day moving average price is $3.14 and its 200-day moving average price is $4.44.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Monday, December 29th. Zacks Research upgraded shares of 60 Degrees Pharmaceuticals to a “hold” rating in a report on Tuesday, November 18th. Ascendiant Capital Markets reduced their price objective on shares of 60 Degrees Pharmaceuticals from $12.00 to $11.20 and set a “buy” rating on the stock in a research report on Friday, November 28th. Finally, HC Wainwright boosted their target price on 60 Degrees Pharmaceuticals from $6.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.60.

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.