60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Short Interest Up 412.3% in December

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 257,700 shares, an increase of 412.3% from the November 30th total of 50,300 shares. Based on an average trading volume of 307,300 shares, the days-to-cover ratio is currently 0.8 days. Approximately 13.9% of the shares of the company are sold short.

60 Degrees Pharmaceuticals Trading Down 5.8 %

NASDAQ:SXTP traded down $0.08 during trading hours on Friday, hitting $1.26. 60,924 shares of the company were exchanged, compared to its average volume of 284,843. The stock has a market capitalization of $2.90 million, a price-to-earnings ratio of -0.13 and a beta of 5.36. The company has a fifty day simple moving average of $1.11 and a 200 day simple moving average of $0.92. 60 Degrees Pharmaceuticals has a one year low of $0.70 and a one year high of $15.00.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a research report on Monday.

Insider Activity

In related news, CEO Geoffrey S. Dow purchased 35,823 shares of the stock in a transaction dated Monday, December 9th. The stock was bought at an average cost of $1.27 per share, for a total transaction of $45,495.21. Following the completion of the acquisition, the chief executive officer now owns 94,580 shares of the company’s stock, valued at approximately $120,116.60. This represents a 60.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders acquired 66,372 shares of company stock valued at $82,410. 10.27% of the stock is owned by company insiders.

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.