60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Short Interest Down 43.2% in March

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 29,200 shares, a decline of 43.2% from the March 15th total of 51,400 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 1,760,000 shares, the short-interest ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

SXTP has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Tuesday, April 8th. HC Wainwright reiterated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Friday, March 28th.

60 Degrees Pharmaceuticals Stock Performance

Shares of 60 Degrees Pharmaceuticals stock traded down $0.01 during trading on Friday, hitting $3.16. 66,025 shares of the company’s stock were exchanged, compared to its average volume of 534,601. The stock has a market capitalization of $4.65 million, a price-to-earnings ratio of -0.31 and a beta of 3.41. The business has a 50-day simple moving average of $2.23 and a 200-day simple moving average of $4.19. 60 Degrees Pharmaceuticals has a 52-week low of $1.41 and a 52-week high of $35.99.

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.