Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Declines By 35.0%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 113,463 shares, a decrease of 35.0% from the June 15th total of 174,691 shares. Approximately 22.7% of the company’s shares are short sold. Based on an average daily volume of 128,062 shares, the short-interest ratio is presently 0.9 days.

Institutional Trading of Sunshine Biopharma

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Sunshine Biopharma during the 4th quarter worth about $29,000. Two Sigma Investments LP acquired a new stake in shares of Sunshine Biopharma during the 3rd quarter worth about $32,000. Finally, Citadel Advisors LLC raised its position in shares of Sunshine Biopharma by 23.1% during the 3rd quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock worth $116,000 after acquiring an additional 14,656 shares in the last quarter. 41.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SBFM. Weiss Ratings reissued a “sell (e+)” rating on shares of Sunshine Biopharma in a research note on Tuesday, April 21st. Zacks Research raised shares of Sunshine Biopharma to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $70.00.

Sunshine Biopharma Stock Performance

Shares of NASDAQ:SBFM traded down $0.02 during trading hours on Friday, reaching $1.81. The stock had a trading volume of 16,638 shares, compared to its average volume of 750,817. Sunshine Biopharma has a 1 year low of $1.80 and a 1 year high of $24.30. The firm’s 50 day moving average is $3.23 and its 200-day moving average is $8.52. The stock has a market capitalization of $903,500.00, a price-to-earnings ratio of -0.14 and a beta of 1.13.

Sunshine Biopharma (NASDAQ:SBFM) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.60) by $1.35. The business had revenue of $8.09 million during the quarter, compared to analysts’ expectations of $9.20 million. Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%. Analysts forecast that Sunshine Biopharma will post -6.3 EPS for the current year.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc is a biotechnology company focused on the research, development and commercialization of novel drug candidates primarily for oncology. The company specializes in small-molecule therapeutics designed to overcome multidrug resistance and to target hard-to-treat cancers. Its preclinical pipeline emphasizes compounds that intercalate DNA and inhibit topoisomerase II, with the goal of advancing candidates into clinical trials for various solid tumors.

Among its lead programs, Sunshine Biopharma is advancing anthracycline-based compounds, including Bisantrene, which has demonstrated activity against breast and prostate cancer cell lines, and Adva-27a, a novel analog being evaluated for glioblastoma multiforme and other drug-resistant malignancies.