60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) Short Interest Down 39.2% in December

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 156,600 shares, a drop of 39.2% from the December 15th total of 257,700 shares. Approximately 8.4% of the shares of the company are short sold. Based on an average daily volume of 544,500 shares, the short-interest ratio is currently 0.3 days.

Insider Transactions at 60 Degrees Pharmaceuticals

In related news, CEO Geoffrey S. Dow purchased 35,823 shares of 60 Degrees Pharmaceuticals 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 transaction, the chief executive officer now owns 94,580 shares in the company, valued at $120,116.60. This trade represents a 60.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 66,372 shares of company stock worth $82,410 over the last quarter. Corporate insiders own 10.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a report on Friday, January 10th.

60 Degrees Pharmaceuticals Stock Performance

60 Degrees Pharmaceuticals stock traded down $0.08 during midday trading on Thursday, reaching $0.83. 244,895 shares of the stock were exchanged, compared to its average volume of 1,640,150. 60 Degrees Pharmaceuticals has a 52 week low of $0.70 and a 52 week high of $11.88. The firm has a market cap of $1.90 million, a PE ratio of -0.08 and a beta of 4.40. The company’s fifty day moving average is $1.19 and its 200-day moving average is $1.01.

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.