60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Short Interest Update

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 50,300 shares, a decline of 42.2% from the November 15th total of 87,000 shares. Based on an average daily trading volume, of 155,300 shares, the days-to-cover ratio is currently 0.3 days. Currently, 2.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

60 Degrees Pharmaceuticals Trading Down 14.5 %

Shares of 60 Degrees Pharmaceuticals stock traded down $0.24 on Friday, reaching $1.41. 293,746 shares of the company were exchanged, compared to its average volume of 282,926. 60 Degrees Pharmaceuticals has a fifty-two week low of $0.70 and a fifty-two week high of $18.36. The firm has a market capitalization of $3.24 million, a price-to-earnings ratio of -0.14 and a beta of 5.36. The stock has a fifty day moving average price of $1.05 and a 200-day moving average price of $0.85.

Insiders Place Their Bets

In other news, CEO Geoffrey S. Dow purchased 35,823 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer now 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 SEC, which is available through this hyperlink. In the last three months, insiders have purchased 59,372 shares of company stock worth $70,410. 10.27% of the stock is owned by corporate insiders.

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.