60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Sees Large Increase in Short Interest

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 37,300 shares, an increase of 126.1% from the October 15th total of 16,500 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 376,600 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Friday, September 13th.

60 Degrees Pharmaceuticals Trading Down 8.9 %

Shares of SXTP stock traded down $0.09 during mid-day trading on Wednesday, reaching $0.92. The stock had a trading volume of 1,699 shares, compared to its average volume of 248,101. 60 Degrees Pharmaceuticals has a 12-month low of $0.70 and a 12-month high of $18.36. The company has a market cap of $1.71 million, a P/E ratio of 11.01 and a beta of 4.78. The business has a 50-day simple moving average of $1.11 and a 200 day simple moving average of $0.71.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($4.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.79) by ($1.44). The business had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $0.11 million. Research analysts anticipate that 60 Degrees Pharmaceuticals will post -3.17 EPS for the current year.

60 Degrees Pharmaceuticals Company Profile

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.