HC Wainwright Reaffirms “Neutral” Rating for 60 Degrees Pharmaceuticals (NASDAQ:SXTP)

60 Degrees Pharmaceuticals (NASDAQ:SXTP)‘s stock had its “neutral” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports.

60 Degrees Pharmaceuticals Trading Down 25.3 %

SXTP stock opened at $1.65 on Wednesday. 60 Degrees Pharmaceuticals has a 1-year low of $0.70 and a 1-year high of $18.36. The stock has a 50-day moving average price of $1.04 and a 200-day moving average price of $0.84. The firm has a market cap of $3.79 million, a PE ratio of -0.16 and a beta of 5.36.

Insider Buying and Selling

In other news, CEO Geoffrey S. Dow acquired 35,823 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were acquired at an average price of $1.27 per share, for a total transaction of $45,495.21. Following the completion of the purchase, the chief executive officer now owns 94,580 shares in the company, 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 filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 59,372 shares of company stock worth $70,410 in the last ninety days. Corporate insiders own 10.27% of the company’s stock.

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.