Sunshine Biopharma, Inc. (NASDAQ:SBFM) Sees Significant Decrease in Short Interest

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 166,389 shares, a drop of 26.3% from the February 26th total of 225,823 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average daily volume of 45,270 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sunshine Biopharma in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sunshine Biopharma has an average rating of “Hold” and a consensus price target of $7.00.

Sunshine Biopharma Stock Up 1.0%

Shares of NASDAQ SBFM traded up $0.01 during midday trading on Friday, hitting $1.02. The stock had a trading volume of 27,262 shares, compared to its average volume of 36,537. Sunshine Biopharma has a 1-year low of $1.00 and a 1-year high of $3.90. The company has a market capitalization of $5.01 million, a price-to-earnings ratio of -1.00 and a beta of 1.51. The company has a fifty day moving average price of $1.16 and a 200 day moving average price of $1.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of Sunshine Biopharma in the fourth quarter valued at $29,000. Two Sigma Investments LP acquired a new stake in Sunshine Biopharma during the 3rd quarter valued at $32,000. Finally, Citadel Advisors LLC increased its stake in Sunshine Biopharma by 23.1% during the 3rd quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock worth $116,000 after buying an additional 14,656 shares during the period. 41.98% of the stock is owned by institutional investors and hedge funds.

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.