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

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the recipient of a significant drop in short interest in February. As of February 13th, there was short interest totaling 107,275 shares, a drop of 49.0% from the January 29th total of 210,488 shares. Approximately 10.3% of the shares of the company are short sold. Based on an average daily volume of 404,658 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 404,658 shares, the short-interest ratio is currently 0.3 days. Approximately 10.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

60 Degrees Pharmaceuticals Trading Up 5.1%

Shares of NASDAQ:SXTP opened at $3.11 on Friday. The company has a 50 day moving average of $3.14 and a 200 day moving average of $4.43. The stock has a market cap of $3.30 million, a P/E ratio of -0.22 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.

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.