Sunshine Biopharma Stock to Reverse Split on Monday, June 1st (NASDAQ:SBFM)

Sunshine Biopharma, Inc. (NASDAQ:SBFM)’s stock is going to reverse split on 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 Trading Down 25.3%

Shares of SBFM stock traded down $0.11 during trading hours on Thursday, hitting $0.32. The company’s stock had a trading volume of 10,390,359 shares, compared to its average volume of 40,397,936. The stock has a market cap of $1.59 million, a PE ratio of -0.25 and a beta of 1.37. Sunshine Biopharma has a 12-month low of $0.28 and a 12-month high of $2.43. The company has a 50 day moving average of $0.89 and a 200 day moving average of $1.15.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Sunshine Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBFM. Virtu Financial LLC purchased a new position in Sunshine Biopharma in the fourth quarter valued at $29,000. Two Sigma Investments LP purchased a new stake in shares of Sunshine Biopharma during the 3rd quarter worth about $32,000. Finally, Citadel Advisors LLC boosted its stake in shares of 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 acquiring an additional 14,656 shares in the last quarter. 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.