Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Decreases By 87.9%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 174,691 shares, a decline of 87.9% from the May 31st total of 1,443,031 shares. Currently, 35.0% of the shares of the stock are short sold. Based on an average trading volume of 1,382,111 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

SBFM has been the subject of several analyst reports. Zacks Research raised Sunshine Biopharma to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sunshine Biopharma in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.00.

Hedge Funds Weigh In On Sunshine Biopharma

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

Sunshine Biopharma Stock Performance

Shares of NASDAQ:SBFM opened at $2.14 on Friday. The firm has a 50 day simple moving average of $5.64 and a 200 day simple moving average of $9.75. Sunshine Biopharma has a 52 week low of $2.00 and a 52 week high of $24.30. The company has a market cap of $1.07 million, a PE ratio of -0.17 and a beta of 1.12.

Sunshine Biopharma (NASDAQ:SBFM) last released its earnings results on Wednesday, May 13th. The company reported ($2.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.90). Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%. The business had revenue of $8.09 million during the quarter, compared to analysts’ expectations of $9.20 million. On average, equities analysts predict that Sunshine Biopharma will post -6.3 earnings per share 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.