60 Degrees Pharmaceuticals (NASDAQ:SXTP) CEO Geoffrey Dow Acquires 7,350 Shares

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) CEO Geoffrey Dow bought 7,350 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $1.38 per share, with a total value of $10,143.00. Following the transaction, the chief executive officer owned 24,131 shares in the company, valued at approximately $33,300.78. This represents a 43.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

60 Degrees Pharmaceuticals Stock Performance

SXTP opened at $1.49 on Tuesday. The firm has a 50 day moving average price of $1.59 and a 200 day moving average price of $2.49. The company has a market cap of $3.96 million, a PE ratio of -0.17 and a beta of 2.65. 60 Degrees Pharmaceuticals Inc. has a 1 year low of $1.22 and a 1 year high of $10.77.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its earnings results on Friday, May 15th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.52). The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.44 million. On average, sell-side analysts predict that 60 Degrees Pharmaceuticals Inc. will post -3.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SXTP has been the subject of a number of research analyst reports. Ascendiant Capital Markets dropped their target price on shares of 60 Degrees Pharmaceuticals from $4.20 to $3.70 and set a “buy” rating for the company in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Friday, March 27th. Finally, HC Wainwright downgraded shares of 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.85.

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.