60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Short Interest Up 402.6% in March

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 484,774 shares, an increase of 402.6% from the February 26th total of 96,462 shares. Approximately 46.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,231,173 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 6,231,173 shares, the days-to-cover ratio is currently 0.1 days. Approximately 46.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SXTP. Wall Street Zen raised 60 Degrees Pharmaceuticals to a “sell” rating in a report on Saturday. HC Wainwright raised their price objective on shares of 60 Degrees Pharmaceuticals from $6.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Monday, December 29th. Finally, Ascendiant Capital Markets dropped their target price on shares of 60 Degrees Pharmaceuticals from $12.00 to $11.20 and set a “buy” rating on the stock in a report on Friday, November 28th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.60.

60 Degrees Pharmaceuticals Trading Down 22.4%

Shares of SXTP traded down $0.41 during midday trading on Tuesday, hitting $1.42. The stock had a trading volume of 588,141 shares, compared to its average volume of 4,937,940. The business has a 50-day simple moving average of $3.11 and a two-hundred day simple moving average of $4.07. The firm has a market cap of $1.51 million, a P/E ratio of -0.10 and a beta of 3.01. 60 Degrees Pharmaceuticals has a fifty-two week low of $1.29 and a fifty-two week high of $17.68.

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.