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

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 73,942 shares, a drop of 41.5% from the July 30th total of 126,399 shares. Based on an average daily volume of 1,475,299 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.9% of the shares of the stock are sold short.

Institutional Trading of Sunshine Biopharma

A number of institutional investors have recently made changes to their positions in SBFM. Two Sigma Investments LP purchased a new position in shares of Sunshine Biopharma in the third quarter worth $32,000. Citadel Advisors LLC grew its holdings in Sunshine Biopharma by 23.1% in the 3rd 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 last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Sunshine Biopharma in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 41.98% of the company’s stock.

Sunshine Biopharma Trading Down 0.9%

Shares of NASDAQ:SBFM traded down $0.01 on Monday, reaching $1.14. 147,816 shares of the company traded hands, compared to its average volume of 787,445. The stock has a market capitalization of $4.42 million, a P/E ratio of -0.11 and a beta of 1.16. The business’s 50-day simple moving average is $1.61 and its 200 day simple moving average is $6.08. Sunshine Biopharma has a 52 week low of $1.01 and a 52 week high of $24.30.

Sunshine Biopharma (NASDAQ:SBFM) last released its 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. Sunshine Biopharma had a negative return on equity of 26.36% and a negative net margin of 17.94%.The company had revenue of $9.26 million during the quarter, compared to analyst estimates of $8.70 million. Sell-side analysts expect that Sunshine Biopharma will post -1.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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