Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Expands By 102.4%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 126,399 shares, an increase of 102.4% from the July 15th total of 62,455 shares. Based on an average daily trading volume, of 153,914 shares, the days-to-cover ratio is currently 0.8 days. Currently, 25.3% of the shares of the company are short sold.

Sunshine Biopharma Stock Down 4.2%

SBFM stock traded down $0.05 during trading on Friday, reaching $1.15. The stock had a trading volume of 102,029 shares, compared to its average volume of 847,012. The stock’s 50 day moving average is $1.82 and its two-hundred day moving average is $6.90. Sunshine Biopharma has a 52 week low of $1.10 and a 52 week high of $24.30.

Sunshine Biopharma (NASDAQ:SBFM) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.05. Sunshine Biopharma had a negative return on equity of 27.69% and a negative net margin of 17.94%.The business had revenue of $9.26 million during the quarter, compared to the consensus estimate of $8.70 million. As a group, analysts forecast that Sunshine Biopharma will post -6.3 earnings per share for the current year.

Institutional Trading of Sunshine Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its position in Sunshine Biopharma by 23.1% in the third quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock worth $116,000 after acquiring an additional 14,656 shares during the period. Two Sigma Investments LP bought a new stake in shares of Sunshine Biopharma during the 3rd quarter valued at $32,000. Finally, Virtu Financial LLC purchased a new stake in shares of Sunshine Biopharma in the 4th quarter worth $29,000. 41.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SBFM shares. Zacks Research raised shares of Sunshine Biopharma to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen raised shares of Sunshine Biopharma to a “hold” rating in a report on Saturday. Finally, Weiss Ratings downgraded shares of Sunshine Biopharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sunshine Biopharma presently has a consensus rating of “Hold” and a consensus 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.