Insider Buying: 60 Degrees Pharmaceuticals (NASDAQ:SXTP) CEO Acquires $10,143.00 in Stock

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) CEO Geoffrey Dow bought 7,350 shares of 60 Degrees Pharmaceuticals stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $1.38 per share, for a total transaction of $10,143.00. Following the completion of the acquisition, the chief executive officer owned 24,131 shares in the company, valued at $33,300.78. This represents a 43.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

60 Degrees Pharmaceuticals Trading Up 11.0%

Shares of SXTP opened at $1.62 on Thursday. 60 Degrees Pharmaceuticals Inc. has a twelve month low of $1.22 and a twelve month high of $10.77. The firm’s fifty day simple moving average is $1.58 and its 200-day simple moving average is $2.45. The firm has a market capitalization of $4.31 million, a price-to-earnings ratio of -0.18 and a beta of 2.65.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last announced its quarterly earnings data on Friday, May 15th. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.52). The firm had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.44 million. On average, analysts predict that 60 Degrees Pharmaceuticals Inc. will post -3.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SXTP shares. HC Wainwright lowered shares of 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, May 20th. Wall Street Zen lowered shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Friday, March 27th. Finally, Ascendiant Capital Markets reduced their price objective on shares of 60 Degrees Pharmaceuticals from $4.20 to $3.70 and set a “buy” rating on the stock in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.85.

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.