Sunshine Biopharma, Inc. (NASDAQ:SBFM) Short Interest Update

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 62,455 shares, a drop of 45.0% from the June 30th total of 113,463 shares. Currently, 12.5% of the company’s stock are sold short. Based on an average daily trading volume, of 48,069 shares, the short-interest ratio is currently 1.3 days.

Sunshine Biopharma Stock Down 5.3%

Shares of NASDAQ:SBFM traded down $0.07 during mid-day trading on Thursday, reaching $1.17. 807,182 shares of the stock were exchanged, compared to its average volume of 712,606. The stock’s 50 day simple moving average is $2.35 and its 200-day simple moving average is $7.80. Sunshine Biopharma has a one year low of $1.14 and a one year high of $24.30. The company has a market cap of $582,500.00, a P/E ratio of -0.09 and a beta of 1.13.

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

Hedge Funds Weigh In On Sunshine Biopharma

Large investors have recently modified their holdings of the business. Citadel Advisors LLC raised its holdings in shares of Sunshine Biopharma by 23.1% in the 3rd quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock valued at $116,000 after purchasing an additional 14,656 shares during the period. Virtu Financial LLC bought a new position in Sunshine Biopharma in the 4th quarter valued at about $29,000. Finally, Two Sigma Investments LP bought a new position in Sunshine Biopharma in the 3rd quarter valued at about $32,000. 41.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on SBFM shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sunshine Biopharma in a report on Friday, July 17th. Zacks Research raised shares of Sunshine Biopharma to a “hold” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $70.00.

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.