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

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 88,900 shares, a decline of 22.4% from the April 30th total of 114,500 shares. Based on an average trading volume of 309,500 shares, the short-interest ratio is presently 0.3 days. Approximately 1.0% of the shares of the stock are sold short.

60 Degrees Pharmaceuticals Price Performance

NASDAQ SXTP remained flat at $0.29 on Friday. 381,688 shares of the company’s stock were exchanged, compared to its average volume of 634,780. 60 Degrees Pharmaceuticals has a one year low of $0.20 and a one year high of $8.65. The stock has a market cap of $3.58 million and a PE ratio of -0.28. The stock’s 50 day moving average is $0.25 and its 200 day moving average is $0.47.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last released its quarterly earnings results on Monday, April 1st. The company reported ($0.44) EPS for the quarter. The company had revenue of ($0.10) million for the quarter, compared to analysts’ expectations of $0.06 million. Equities research analysts expect that 60 Degrees Pharmaceuticals will post -0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a report on Wednesday, April 3rd.

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.