Sunshine Biopharma, Inc. (NASDAQ:SBFM) Shares Shorted: Short Interest Down 79.0% in October

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 176,303 shares, a decrease of 79.0% from the October 15th total of 840,899 shares. Based on an average trading volume of 170,382 shares, the days-to-cover ratio is presently 1.0 days. Currently, 82.0% of the shares of the company are sold short.

Sunshine Biopharma Stock Performance

SBFM traded down $0.04 during midday trading on Thursday, hitting $2.71. The company had a trading volume of 14,234 shares, compared to its average volume of 115,135. The firm’s 50-day simple moving average is $10.85 and its 200-day simple moving average is $99.61. The company has a market capitalization of $584,280.00, a PE ratio of -0.01 and a beta of 1.32. Sunshine Biopharma has a twelve month low of $2.53 and a twelve month high of $464.00.

Sunshine Biopharma (NASDAQ:SBFM) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($23.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($24.00) by $1.00. The business had revenue of $9.26 million for the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Sunshine Biopharma will post -39.00 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Sunshine Biopharma to a “hold” rating in a research note on Saturday, October 31st. Weiss Ratings raised Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce”.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc. is a biotechnology and pharmaceutical company focused on developing and commercializing therapies for cancer and other medical conditions. Its lead oncology candidate, Adva-27a, is an investigational small-molecule drug designed to inhibit topoisomerase II, an enzyme involved in cancer-cell replication. The company has studied the compound in preclinical models, including models of breast cancer and multidrug-resistant tumors. In addition to its drug-development activities, Sunshine Biopharma has expanded into the pharmaceutical products business through its Canadian operations.