Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Declines By 41.5%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the recipient of a significant decline in short interest during the month of 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. Based on an average trading volume of 1,475,299 shares, the short-interest ratio is presently 0.1 days. Approximately 1.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Sunshine Biopharma

Institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC increased its stake 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 purchasing an additional 14,656 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Sunshine Biopharma during the 3rd quarter valued at $32,000. Finally, Virtu Financial LLC purchased a new position in Sunshine Biopharma during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 41.98% of the company’s stock.

Sunshine Biopharma Price Performance

SBFM traded down $0.01 during trading on Tuesday, reaching $1.11. 52,441 shares of the stock were exchanged, compared to its average volume of 784,404. The business’s 50 day moving average price is $1.59 and its two-hundred day moving average price is $6.00. The company has a market capitalization of $4.33 million, a price-to-earnings ratio of -0.11 and a beta of 1.17. Sunshine Biopharma has a 1 year low of $1.01 and a 1 year high of $24.30.

Sunshine Biopharma (NASDAQ:SBFM) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.05. The business had revenue of $9.26 million during the quarter, compared to analysts’ expectations of $8.70 million. Sunshine Biopharma had a negative return on equity of 26.36% and a negative net margin of 17.94%. On average, analysts anticipate that Sunshine Biopharma will post -1.95 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.