60 Degrees Pharmaceuticals’ (SXTP) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of 60 Degrees Pharmaceuticals (NASDAQ:SXTP) in a research report released on Monday morning,Benzinga reports.

60 Degrees Pharmaceuticals Trading Up 13.8 %

NASDAQ:SXTP opened at $1.32 on Monday. 60 Degrees Pharmaceuticals has a 1-year low of $0.70 and a 1-year high of $18.36. The stock has a market cap of $3.03 million, a P/E ratio of -0.13 and a beta of 5.36. The stock has a 50 day simple moving average of $1.10 and a 200 day simple moving average of $0.91.

Insiders Place Their Bets

In related news, CEO Geoffrey S. Dow purchased 35,823 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average price of $1.27 per share, for a total transaction of $45,495.21. Following the completion of the transaction, the chief executive officer now owns 94,580 shares of the company’s stock, valued at approximately $120,116.60. This trade represents a 60.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired 66,372 shares of company stock worth $82,410 in the last quarter. 10.27% of the stock is currently owned by corporate insiders.

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.