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

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 323,400 shares, a growth of 40.4% from the May 31st total of 230,400 shares. Based on an average daily volume of 472,400 shares, the days-to-cover ratio is presently 0.7 days. Currently, 3.5% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “neutral” rating on shares of 60 Degrees Pharmaceuticals in a report on Thursday, June 6th.

60 Degrees Pharmaceuticals Stock Down 5.8 %

SXTP stock opened at $0.25 on Monday. 60 Degrees Pharmaceuticals has a 1 year low of $0.20 and a 1 year high of $8.65. The company has a fifty day simple moving average of $0.26 and a 200 day simple moving average of $0.42.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.19. The company had revenue of $0.08 million during the quarter. As a group, sell-side analysts forecast that 60 Degrees Pharmaceuticals will post -0.56 earnings per share for the current fiscal 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.