Sunshine Biopharma, Inc. (NASDAQ:SBFM) Short Interest Up 376.4% in May

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 496,125 shares, a growth of 376.4% from the April 30th total of 104,141 shares. Approximately 9.9% of the company’s stock are short sold. Based on an average daily volume of 321,722 shares, the days-to-cover ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sunshine Biopharma in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.00.

Sunshine Biopharma Stock Down 25.3%

SBFM opened at $0.32 on Friday. Sunshine Biopharma has a 52-week low of $0.28 and a 52-week high of $2.43. The company has a market cap of $1.59 million, a P/E ratio of -0.25 and a beta of 1.37. The firm’s 50-day moving average price is $0.89 and its 200-day moving average price is $1.15.

Sunshine Biopharma’s stock is going to reverse split on the morning of Monday, June 1st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, May 31st.

Sunshine Biopharma (NASDAQ:SBFM) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%. The company had revenue of $8.09 million for the quarter, compared to analyst estimates of $9.20 million. On average, research analysts anticipate that Sunshine Biopharma will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Sunshine Biopharma

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Sunshine Biopharma during the fourth quarter valued at about $29,000. Citadel Advisors LLC increased 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 valued at $116,000 after acquiring an additional 14,656 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Sunshine Biopharma during the third quarter valued at about $32,000. Institutional investors and hedge funds own 41.98% of the company’s stock.

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.