60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Sees Significant Decline in Short Interest

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 160,681 shares, a decline of 66.9% from the March 15th total of 484,774 shares. Based on an average daily volume of 371,994 shares, the days-to-cover ratio is currently 0.4 days. Approximately 6.2% of the company’s stock are short sold.

60 Degrees Pharmaceuticals Price Performance

Shares of SXTP opened at $1.76 on Friday. The firm has a market capitalization of $4.65 million, a PE ratio of -0.13 and a beta of 3.27. 60 Degrees Pharmaceuticals has a 1-year low of $1.29 and a 1-year high of $17.68. The company’s fifty day moving average price is $2.62 and its 200-day moving average price is $3.71.

Analyst Ratings Changes

SXTP has been the topic of several analyst reports. Ascendiant Capital Markets cut their price target on shares of 60 Degrees Pharmaceuticals from $11.20 to $4.20 and set a “buy” rating on the stock in a report on Thursday. HC Wainwright lifted their price target on shares of 60 Degrees Pharmaceuticals from $6.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Wall Street Zen raised shares of 60 Degrees Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, 60 Degrees Pharmaceuticals has a consensus rating of “Hold” and an average target price of $14.10.

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.