60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Short Interest Down 15.7% in January

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the target of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 210,488 shares, a decline of 15.7% from the January 15th total of 249,573 shares. Currently, 20.2% of the shares of the company are short sold. Based on an average daily volume of 19,656,509 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 19,656,509 shares, the short-interest ratio is currently 0.0 days. Currently, 20.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SXTP. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Monday, December 29th. Ascendiant Capital Markets reduced their price objective on 60 Degrees Pharmaceuticals from $12.00 to $11.20 and set a “buy” rating for the company in a research report on Friday, November 28th. HC Wainwright raised their price objective on shares of 60 Degrees Pharmaceuticals from $6.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, Zacks Research upgraded shares of 60 Degrees Pharmaceuticals to a “hold” rating in a research note on Tuesday, November 18th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, 60 Degrees Pharmaceuticals has a consensus rating of “Hold” and an average target price of $17.60.

60 Degrees Pharmaceuticals Stock Performance

Shares of SXTP traded down $0.30 on Tuesday, reaching $3.21. 60,439 shares of the stock traded hands, compared to its average volume of 10,413,466. The stock’s 50-day moving average price is $3.19 and its 200-day moving average price is $4.55. 60 Degrees Pharmaceuticals has a 12 month low of $1.36 and a 12 month 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.