Sunshine Biopharma, Inc. (NASDAQ:SBFM) Sees Large Decrease in Short Interest

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the recipient of a large decline in short interest in August. As of August 14th, there was short interest totaling 73,942 shares, a decline of 41.5% from the July 30th total of 126,399 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average trading volume of 1,475,299 shares, the short-interest ratio is presently 0.1 days.

Sunshine Biopharma Stock Up 0.9%

Shares of SBFM stock opened at $1.13 on Wednesday. Sunshine Biopharma has a twelve month low of $1.01 and a twelve month high of $24.30. The stock’s fifty day simple moving average is $1.57 and its 200 day simple moving average is $5.93. The firm has a market capitalization of $4.38 million, a P/E ratio of -0.11 and a beta of 1.17.

Sunshine Biopharma (NASDAQ:SBFM) last posted its earnings results on Thursday, August 13th. The company reported ($1.15) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.05. The firm had revenue of $9.26 million during the quarter, compared to the consensus estimate of $8.70 million. Sunshine Biopharma had a negative return on equity of 26.36% and a negative net margin of 17.94%. As a group, equities research analysts expect that Sunshine Biopharma will post -1.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings raised Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. Zacks Research raised Sunshine Biopharma to a “hold” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded Sunshine Biopharma to a “hold” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sunshine Biopharma currently has a consensus rating of “Hold” and a consensus price target of $70.00.

Institutional Investors Weigh In On Sunshine Biopharma

Several hedge funds have recently added to or reduced their stakes in SBFM. Virtu Financial LLC acquired a new position in Sunshine Biopharma in the 4th quarter valued at approximately $29,000. Citadel Advisors LLC lifted its holdings in shares of Sunshine Biopharma by 23.1% during the third quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock worth $116,000 after purchasing an additional 14,656 shares during the period. Finally, Two Sigma Investments LP acquired a new position in shares of Sunshine Biopharma during the third quarter worth $32,000. 41.98% of the stock is currently owned by institutional investors and hedge funds.

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.