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

60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 230,400 shares, an increase of 159.2% from the May 15th total of 88,900 shares. Based on an average trading volume of 481,500 shares, the days-to-cover ratio is currently 0.5 days. Currently, 2.5% of the shares of the stock are short sold.

60 Degrees Pharmaceuticals Stock Performance

NASDAQ:SXTP opened at $0.27 on Friday. The stock’s 50-day moving average is $0.26 and its 200-day moving average is $0.45. 60 Degrees Pharmaceuticals has a 1-year low of $0.20 and a 1-year high of $8.65.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last released its quarterly earnings results on Wednesday, May 15th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.19. The firm had revenue of $0.08 million for the quarter. On average, research analysts forecast that 60 Degrees Pharmaceuticals will post -0.56 earnings per share for the current year.

Analyst Ratings Changes

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

About 60 Degrees Pharmaceuticals

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.