60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Stock Short Interest Report for September

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 133,355 shares, a decrease of 38.3% from the September 15th total of 215,989 shares. Based on an average trading volume of 82,820 shares, the days-to-cover ratio is presently 1.6 days. Approximately 3.9% of the company’s shares are short sold.

60 Degrees Pharmaceuticals Trading Down 4.8%

60 Degrees Pharmaceuticals stock traded down $0.04 during trading hours on Friday, hitting $0.86. 10,179 shares of the stock traded hands, compared to its average volume of 224,141. 60 Degrees Pharmaceuticals has a one year low of $0.83 and a one year high of $8.62. The firm’s 50-day moving average price is $1.06 and its two-hundred day moving average price is $1.39. The company has a market cap of $3.01 million, a PE ratio of -0.18 and a beta of 2.40.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last issued its earnings results on Friday, August 14th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.16). The business had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.20 million. On average, sell-side analysts expect that 60 Degrees Pharmaceuticals will post -3.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.85.

About 60 Degrees Pharmaceuticals

60 Degrees Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for infectious and tropical diseases. The company’s lead product is Arakoda (tafenoquine), an oral antimalarial approved by the U.S. Food and Drug Administration for the prevention of malaria in adults.

Arakoda is designed for use as a malaria-prophylaxis regimen before, during and after travel to areas where malaria is present. The product is marketed in the United States, and 60 Degrees Pharmaceuticals has also pursued opportunities to expand access through international partnerships and regulatory development.

The company was founded in 2010 and is headquartered in Washington, DC In addition to its malaria business, 60 Degrees Pharmaceuticals has evaluated tafenoquine and related therapies for other infectious diseases, including babesiosis, an emerging tick-borne disease.